Healthcare of Ontario Pension Plan Trust Fund Takes $63 Million Position in Medline $MDLN

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Medline (NASDAQ:MDLN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,500,000 shares of the company’s stock, valued at approximately $63,000,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.11% of Medline at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sound Income Strategies LLC acquired a new stake in shares of Medline during the fourth quarter valued at approximately $25,000. Entrust Financial LLC acquired a new stake in shares of Medline during the fourth quarter valued at approximately $26,000. NBC Securities Inc. acquired a new stake in shares of Medline during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC acquired a new stake in shares of Medline during the fourth quarter valued at approximately $31,000. Finally, North Star Investment Management Corp. acquired a new stake in shares of Medline during the fourth quarter valued at approximately $36,000.

Medline Price Performance

MDLN stock opened at $36.61 on Monday. 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 company has a market capitalization of $48.09 billion and a P/E ratio of 114.41. 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 $40.76.

Medline (NASDAQ:MDLN) last posted its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The business 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 expect that Medline will post 1.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MDLN has been the topic of a number of recent analyst reports. BTIG Research restated a “buy” rating and set a $55.00 price target on shares of Medline in a report on Thursday, May 7th. William Blair reiterated an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on shares of Medline in a research note on Thursday, May 7th. Citigroup dropped 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. Finally, Sanford C. Bernstein dropped their price objective on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.54.

Insider Buying and Selling

In other Medline news, insider Jessi L. Corcoran bought 5,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at approximately $170,750. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by corporate insiders.

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.