Artisan Partners Limited Partnership Buys New Shares in Medline $MDLN

Artisan Partners Limited Partnership bought a new stake in shares of Medline (NASDAQ:MDLN) during the fourth quarter, Holdings Channel reports. The institutional investor bought 4,591,588 shares of the company’s stock, valued at approximately $192,847,000.

Other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC acquired a new position in shares of Medline during the 4th quarter valued at $25,000. Entrust Financial LLC acquired a new position in shares of Medline during the 4th quarter valued at $26,000. NBC Securities Inc. acquired a new position in shares of Medline during the 4th quarter valued at $28,000. Global Retirement Partners LLC acquired a new position in shares of Medline during the 4th quarter valued at $31,000. Finally, North Star Investment Management Corp. acquired a new position in shares of Medline during the 4th quarter valued at $36,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MDLN shares. BNP Paribas Exane dropped their target price on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. JPMorgan Chase & Co. upped their price objective on shares of Medline from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on shares of Medline in a report on Thursday, May 7th. Tigress Financial upped their price objective on shares of Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Medline has a consensus rating of “Moderate Buy” and a consensus target price of $50.54.

Medline Stock Performance

Shares of MDLN stock opened at $37.09 on Wednesday. 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 market cap of $48.72 billion and a P/E ratio of 115.91. Medline has a 52-week low of $32.81 and a 52-week high of $50.88. The stock has a 50-day moving average price of $40.48.

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 firm had revenue of $7.35 billion for the quarter. The company’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that Medline will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Medline news, insider Jessi L. Corcoran purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the acquisition, the insider owned 5,000 shares of the company’s stock, valued at $170,750. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.81% of the company’s stock.

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.