Geode Capital Management LLC Takes $123.92 Million Position in Medline $MDLN

Geode Capital Management LLC acquired a new stake in shares of Medline (NASDAQ:MDLN) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,949,380 shares of the company’s stock, valued at approximately $123,923,000. Geode Capital Management LLC owned 0.22% of Medline at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group upped their price target on Medline from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. BMO Capital Markets increased their target price on Medline from $45.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Leerink Partners set a $56.00 target price on Medline in a research note on Wednesday, February 25th. Wells Fargo & Company increased their target price on Medline from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Finally, Royal Bank Of Canada increased their target price on Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.54.

Medline Stock Down 2.4%

NASDAQ:MDLN opened at $33.61 on Friday. The stock’s 50-day moving average price is $41.45. Medline has a 52-week low of $32.81 and a 52-week high of $50.88.

Medline (NASDAQ:MDLN) last posted 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 company had revenue of $7.35 billion during the quarter. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts predict that Medline will post 1.51 earnings per share 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.