Clio Asset Management LLC Makes New Investment in Medline $MDLN

Clio Asset Management LLC acquired a new position in Medline (NASDAQ:MDLN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,159 shares of the company’s stock, valued at approximately $4,057,000. Medline makes up 3.4% of Clio Asset Management LLC’s portfolio, making the stock its 12th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sound Income Strategies LLC purchased a new stake in Medline during the 4th quarter worth $25,000. Entrust Financial LLC purchased a new position in Medline in the fourth quarter valued at about $26,000. NBC Securities Inc. purchased a new position in Medline in the fourth quarter valued at about $28,000. Global Retirement Partners LLC acquired a new position in shares of Medline during the fourth quarter worth about $31,000. Finally, North Star Investment Management Corp. acquired a new position in shares of Medline during the fourth quarter worth about $36,000.

Analyst Upgrades and Downgrades

MDLN has been the subject of a number of recent research reports. Weiss Ratings lowered Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a research report on Thursday, May 7th. BTIG Research restated a “buy” rating and issued a $55.00 price target on shares of Medline in a report on Thursday, May 7th. Royal Bank Of Canada increased their price objective on shares of Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Medline from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.54.

Insider Buying and Selling

In related news, insider Jessi L. Corcoran purchased 5,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the transaction, the insider owned 5,000 shares of the company’s stock, valued at $170,750. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the completion of the sale, the insider owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.81% of the company’s stock.

Medline Stock Performance

Shares of NASDAQ MDLN opened at $37.77 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The stock’s 50-day simple moving average is $39.17. The stock has a market capitalization of $49.62 billion and a price-to-earnings ratio of 118.03.

Medline (NASDAQ:MDLN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. As a group, research analysts predict that Medline will post 1.49 EPS for the current year.

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.