Medline $MDLN Position Raised by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. increased its stake in Medline (NASDAQ:MDLN) by 22.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 167,085 shares of the company’s stock after buying an additional 30,906 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Medline were worth $5,798,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its holdings in Medline by 8.4% during the first quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock worth $506,546,000 after buying an additional 887,240 shares during the last quarter. Banque Pictet & Cie SA raised its position in Medline by 2.0% in the third quarter. Banque Pictet & Cie SA now owns 7,455,089 shares of the company’s stock worth $258,692,000 after acquiring an additional 142,939 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Medline by 233.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock valued at $222,500,000 after acquiring an additional 3,500,000 shares during the last quarter. Bessemer Group Inc. boosted its stake in Medline by 39,404.0% in the first quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock valued at $155,929,000 after acquiring an additional 3,495,136 shares during the last quarter. Finally, Unisphere Establishment boosted its stake in Medline by 50.5% in the first quarter. Unisphere Establishment now owns 2,482,500 shares of the company’s stock valued at $110,471,000 after acquiring an additional 832,500 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Medline from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Bank of America dropped their price objective on Medline from $53.00 to $46.00 in a research note on Thursday, August 6th. UBS Group reduced their price objective on Medline from $45.00 to $43.00 and set a “buy” rating for the company in a report on Friday, September 25th. TD Cowen decreased their target price on Medline from $53.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, Evercore set a $39.00 target price on Medline in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.54.

Insider Transactions at Medline

In other Medline news, major shareholder Private Ltd Gic sold 2,088,987 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $35.05, for a total transaction of $73,218,994.35. Following the sale, the insider owned 16,453,806 shares of the company’s stock, valued at $576,705,900.30. The trade was a 11.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 10,787,572 shares of company stock worth $382,784,591. Insiders own 0.81% of the company’s stock.

Medline Stock Performance

Shares of NASDAQ MDLN traded down $0.79 during midday trading on Friday, hitting $34.09. The company’s stock had a trading volume of 7,439,611 shares, compared to its average volume of 8,590,693. The stock has a fifty day moving average price of $34.70 and a 200 day moving average price of $37.90. Medline has a one year low of $31.49 and a one year high of $50.88. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $44.82 billion and a price-to-earnings ratio of 43.15.

Medline (NASDAQ:MDLN) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. The business had revenue of $7.68 billion for the quarter. On average, research analysts forecast that Medline will post 1.51 EPS for the current fiscal year.

Medline Profile

Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.

Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.