WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST Invests $6.52 Million in Medline $MDLN

WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST acquired a new stake in Medline (NASDAQ:MDLN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 146,602 shares of the company’s stock, valued at approximately $6,524,000. Medline accounts for 0.1% of WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST’s portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Sound Income Strategies LLC bought a new position in Medline during the fourth quarter worth $25,000. Entrust Financial LLC bought a new stake in Medline in the 4th quarter valued at $26,000. NBC Securities Inc. bought a new stake in Medline in the 4th quarter valued at $28,000. Global Retirement Partners LLC acquired a new stake in Medline in the 4th quarter worth $31,000. Finally, North Star Investment Management Corp. acquired a new stake in Medline in the 4th quarter worth $36,000.

Insider Buying and Selling at Medline

In related news, insider Jessi L. Corcoran purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $34.15 per share, with a total value of $170,750.00. Following the purchase, the insider directly owned 5,000 shares in the company, valued at $170,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the transaction, the insider owned 23,899 shares of the company’s stock, valued at $878,766.23. This represents a 80.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDLN. Robert W. Baird cut their price objective on shares of Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Barclays decreased their target price on Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, June 1st. BTIG Research reaffirmed a “buy” rating and issued a $55.00 price target on shares of Medline in a report on Thursday, May 7th. BNP Paribas Exane reduced their price objective on Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, William Blair reiterated an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Medline presently has an average rating of “Moderate Buy” and a consensus target price of $50.54.

Medline Stock Up 2.9%

NASDAQ:MDLN opened at $38.87 on Friday. The firm has a market capitalization of $51.06 billion and a price-to-earnings ratio of 121.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. The business has a 50-day simple moving average of $38.99.

Medline (NASDAQ:MDLN) last released its quarterly earnings data 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 company had revenue of $7.35 billion for the quarter. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts expect that Medline will post 1.49 EPS for the current year.

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.