Pelham Capital Ltd. Buys Shares of 149,598 Medline $MDLN

Pelham Capital Ltd. purchased a new position in Medline (NASDAQ:MDLN) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 149,598 shares of the company’s stock, valued at approximately $5,900,000. Medline accounts for about 3.4% of Pelham Capital Ltd.’s investment portfolio, making the stock its 11th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Carlyle Group Inc. acquired a new position in Medline during the 4th quarter valued at about $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new stake in Medline in the fourth quarter worth about $4,179,591,000. Morgan Stanley acquired a new stake in Medline in the fourth quarter worth about $636,807,000. Capital Research Global Investors purchased a new stake in shares of Medline during the fourth quarter worth about $620,937,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Medline during the fourth quarter worth about $443,712,000.

Medline Trading Down 0.7%

Medline stock opened at $35.03 on Tuesday. The stock has a 50-day moving average price of $37.94 and a 200 day moving average price of $40.52. The company has a market capitalization of $46.05 billion and a price-to-earnings ratio of 44.34. Medline has a 52 week low of $32.49 and a 52 week high of $50.88. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66.

Medline (NASDAQ:MDLN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.18. The business had revenue of $7.68 billion during the quarter. Sell-side analysts anticipate that Medline will post 1.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MDLN. Deutsche Bank Aktiengesellschaft set a $37.00 price objective on shares of Medline in a research report on Thursday, August 6th. Sanford C. Bernstein cut their price target on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Robert W. Baird set a $42.00 price target on shares of Medline in a report on Thursday, August 6th. Barclays lowered their price objective on shares of Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, June 1st. Finally, Evercore set a $39.00 price objective on shares of Medline in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Medline has an average rating of “Moderate Buy” and a consensus price target of $47.42.

Insider Activity

In related news, insider Douglas P. Golwas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the sale, the insider owned 23,899 shares in the company, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessi L. Corcoran bought 5,000 shares of the stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the purchase, the insider owned 5,000 shares in the company, valued at approximately $170,750. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 4,538,896 shares of company stock valued at $161,936,454 in the last three months. 0.81% of the stock is currently owned by corporate insiders.

Medline Company Profile

Medline (NASDAQ: MDLN) is a healthcare products and services company that manufactures, sources and distributes a wide range of medical supplies and equipment for healthcare providers. Its product portfolio spans clinical consumables and personal protective equipment, surgical and procedural supplies, wound care and incontinence products, diagnostic and laboratory supplies, and select durable medical equipment. Medline supports care settings that include hospitals, health systems, long-term care facilities, ambulatory clinics and home health providers.

In addition to product manufacturing and distribution, Medline provides supply‑chain and logistics services designed to help healthcare customers manage inventory, reduce costs and streamline operations.