Dragoneer Investment Group LLC Invests $22.05 Million in Medline $MDLN

Dragoneer Investment Group LLC bought a new position in shares of 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 bought 525,000 shares of the company’s stock, valued at approximately $22,050,000. Medline makes up approximately 0.5% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also modified their holdings of MDLN. Carlyle Group Inc. purchased a new stake in Medline during the 4th quarter valued at about $9,042,728,000. H&F Corporate Investors X Ltd. purchased a new stake in Medline during the 4th quarter valued at about $4,179,591,000. Vanguard Group Inc. purchased a new stake in Medline during the 4th quarter valued at about $793,278,000. Morgan Stanley purchased a new stake in Medline during the 4th quarter valued at about $636,807,000. Finally, Capital Research Global Investors purchased a new stake in Medline during the 4th quarter valued at about $620,937,000.

Medline Price Performance

Medline stock opened at $37.09 on Wednesday. The company has a 50 day moving average price of $40.48. Medline has a 1-year low of $32.81 and a 1-year high of $50.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. The stock has a market cap of $48.72 billion and a PE ratio of 115.91.

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 the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. Medline’s revenue was up 10.7% on a year-over-year basis. Equities analysts expect that Medline will post 1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MDLN. Citigroup dropped their price objective on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Robert W. Baird dropped their price objective on shares of Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Royal Bank Of Canada upped their price objective on shares of Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. William Blair reaffirmed an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Finally, UBS Group upped their price objective on shares of Medline from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.54.

Insider Buying and Selling at Medline

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

Medline 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.