Alberta Investment Management Corp Takes $19.95 Million Position in Medline $MDLN

Alberta Investment Management Corp acquired a new stake in Medline (NASDAQ:MDLN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 475,000 shares of the company’s stock, valued at approximately $19,950,000.

A number of other hedge funds have also made changes to their positions in the business. Carlyle Group Inc. purchased a new position in shares of Medline in the 4th quarter valued at about $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new stake in shares of Medline in the 4th quarter valued at about $4,179,591,000. Vanguard Group Inc. purchased a new position in Medline during the 4th quarter worth approximately $793,278,000. Morgan Stanley purchased a new position in Medline during the 4th quarter worth approximately $636,807,000. Finally, Capital Research Global Investors purchased a new position in Medline during the 4th quarter worth approximately $620,937,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on MDLN shares. Barclays dropped their price target on Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, June 1st. UBS Group raised their price target on Medline from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Leerink Partners set a $56.00 price target on Medline in a research note on Wednesday, February 25th. Evercore restated an “outperform” rating and set a $55.00 price target on shares of Medline in a research note on Wednesday, February 25th. Finally, Stifel Nicolaus set a $55.00 target price on Medline in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.54.

Insider Transactions at Medline

In other news, insider Jessi L. Corcoran acquired 5,000 shares of Medline stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the completion of the acquisition, the insider owned 5,000 shares in the company, valued at $170,750. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Medline Price Performance

MDLN opened at $37.33 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. The company has a 50 day simple moving average of $40.62. The firm has a market cap of $49.04 billion and a PE ratio of 116.66. Medline has a 12 month low of $32.81 and a 12 month high of $50.88.

Medline (NASDAQ:MDLN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The firm’s revenue was up 10.7% compared to the same quarter last year. Research analysts anticipate that Medline will post 1.51 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.