Capital World Investors Takes Position in Medline $MDLN

Capital World Investors acquired a new stake in Medline (NASDAQ:MDLN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,391,577 shares of the company’s stock, valued at approximately $142,446,000. Capital World Investors owned about 0.26% of Medline at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mass General Brigham Inc acquired a new position in shares of Medline in the fourth quarter valued at approximately $1,104,000. Baillie Gifford & Co. acquired a new position in shares of Medline in the fourth quarter valued at approximately $437,236,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Medline in the fourth quarter valued at approximately $429,544,000. UBS Group AG acquired a new position in shares of Medline in the fourth quarter valued at approximately $54,707,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Medline in the fourth quarter valued at approximately $48,996,000.

Medline Stock Performance

Medline stock opened at $33.80 on Tuesday. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The firm has a 50 day moving average of $41.29.

Medline (NASDAQ:MDLN) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts expect that Medline will post 1.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MDLN. BNP Paribas Exane cut their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Morgan Stanley boosted their target price on shares of Medline from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. BTIG Research restated a “buy” rating and issued a $55.00 target price on shares of Medline in a report on Thursday, May 7th. Sanford C. Bernstein lowered their target price on shares of Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Finally, Barclays lowered their target price on shares of Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Medline presently has a consensus rating of “Moderate Buy” and an average price target of $50.54.

About Medline

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.