Royal Bank of Canada Buys 16,548 Shares of Medline $MDLN

Royal Bank of Canada increased its stake in shares of Medline (NASDAQ:MDLN) by 1,180.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,950 shares of the company’s stock after buying an additional 16,548 shares during the quarter. Royal Bank of Canada’s holdings in Medline were worth $798,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Carlyle Group Inc. acquired a new position in Medline in the 4th quarter valued at $9,042,728,000. H&F Corporate Investors X Ltd. bought a new stake in shares of Medline during the 4th quarter valued at $4,179,591,000. Vanguard Group Inc. acquired a new stake in shares of Medline during the 4th quarter worth $793,278,000. Morgan Stanley acquired a new stake in shares of Medline during the 4th quarter worth $636,807,000. Finally, Capital Research Global Investors bought a new position in shares of Medline in the fourth quarter worth $620,937,000.

Insider Activity at Medline

In related news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 23,899 shares in the company, valued at $878,766.23. This represents a 80.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessi L. Corcoran acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $34.15 per share, with a total value of $170,750.00. Following the purchase, the insider owned 5,000 shares in the company, valued at $170,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have sold 4,538,896 shares of company stock valued at $161,936,454. 0.81% of the stock is owned by insiders.

Analysts Set New Price Targets

MDLN has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Medline in a research report on Friday, July 31st. Royal Bank Of Canada reduced their price objective on shares of Medline from $53.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings raised shares of Medline from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Citigroup upgraded shares of Medline to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, Stifel Nicolaus cut their price target on shares of Medline from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Medline currently has an average rating of “Moderate Buy” and a consensus target price of $47.42.

Medline Price Performance

Shares of MDLN stock opened at $34.26 on Friday. The business has a fifty day simple moving average of $38.09 and a 200 day simple moving average of $41.01. The company has a market cap of $45.04 billion and a P/E ratio of 43.37. 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 has a twelve month low of $32.49 and a twelve month high of $50.88.

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

Medline 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.