ExodusPoint Capital Management LP Makes New $22.28 Million Investment in Medline $MDLN

ExodusPoint Capital Management LP bought a new position in Medline (NASDAQ:MDLN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 530,474 shares of the company’s stock, valued at approximately $22,280,000.

A number of other hedge funds have also bought and sold shares of MDLN. Carlyle Group Inc. purchased a new position in Medline in the 4th quarter worth about $9,042,728,000. H&F Corporate Investors X Ltd. purchased a new position in Medline in the 4th quarter worth about $4,179,591,000. Vanguard Group Inc. purchased a new position in Medline in the 4th quarter worth about $793,278,000. Morgan Stanley purchased a new position in Medline in the 4th quarter worth about $636,807,000. Finally, Capital Research Global Investors purchased a new position in Medline in the 4th quarter worth about $620,937,000.

Insider Transactions at Medline

In other news, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

MDLN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $42.00 price target on shares of Medline in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Morgan Stanley upped their price target on shares of Medline from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. UBS Group upped their price target on shares of Medline from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, BTIG Research reaffirmed a “buy” rating and set a $55.00 price target on shares of Medline in a research report on Thursday, May 7th. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.54.

Medline Trading Down 0.6%

Medline stock opened at $37.09 on Wednesday. The business has a 50 day moving average price of $40.48. The stock has a market cap of $48.72 billion and a price-to-earnings ratio of 115.91. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. 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 (NASDAQ:MDLN) last released its earnings results 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 firm had revenue of $7.35 billion during the quarter. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts predict that Medline will post 1.49 EPS for the current year.

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.