SummitTX Capital L.P. Takes $4.78 Million Position in Medline $MDLN

SummitTX Capital L.P. bought a new position in shares of Medline (NASDAQ:MDLN) in the first quarter, HoldingsChannel reports. The institutional investor bought 107,413 shares of the company’s stock, valued at approximately $4,780,000.

Several other large investors have also made changes to their positions in MDLN. Lazard Asset Management LLC boosted its holdings in Medline by 100.2% in the first quarter. Lazard Asset Management LLC now owns 26,448 shares of the company’s stock valued at $1,177,000 after acquiring an additional 13,239 shares during the last quarter. Weiss Asset Management LP raised its holdings in Medline by 1.3% during the 1st quarter. Weiss Asset Management LP now owns 213,178 shares of the company’s stock worth $9,486,000 after purchasing an additional 2,787 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Medline during the 1st quarter valued at about $423,000. Bradley Foster & Sargent Inc. CT bought a new position in shares of Medline in the 1st quarter valued at about $17,331,000. Finally, Unisphere Establishment boosted its stake in shares of Medline by 50.5% in the 1st quarter. Unisphere Establishment now owns 2,482,500 shares of the company’s stock valued at $110,471,000 after purchasing an additional 832,500 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MDLN shares. BNP Paribas Exane dropped their price target on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Citigroup reduced their price objective on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Tigress Financial lifted their target price on shares of Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings cut shares of Medline from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Finally, Robert W. Baird cut their price target on Medline from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.54.

Insider Activity at Medline

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the sale, the insider directly 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Jessi L. Corcoran bought 5,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the acquisition, the insider owned 5,000 shares of the company’s stock, valued at approximately $170,750. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.81% of the stock is currently owned by corporate insiders.

Medline Stock Performance

Shares of MDLN stock opened at $39.70 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. The stock has a market cap of $52.15 billion and a PE ratio of 124.06. The stock has a 50-day moving average of $37.87 and a 200-day moving average of $41.94. Medline has a one year low of $32.81 and a one year high of $50.88.

Medline (NASDAQ:MDLN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts expect that Medline will post 1.49 earnings per share for the current 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.