Capricorn Fund Managers Ltd Takes $1.89 Million Position in Medline $MDLN

Capricorn Fund Managers Ltd bought a new position in Medline (NASDAQ:MDLN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 42,455 shares of the company’s stock, valued at approximately $1,889,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new position in Medline during the 4th quarter valued at about $25,000. Entrust Financial LLC purchased a new stake in Medline in the 4th quarter worth approximately $26,000. NBC Securities Inc. purchased a new stake in Medline in the 4th quarter worth approximately $28,000. Global Retirement Partners LLC bought a new stake in shares of Medline in the 4th quarter worth approximately $31,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Medline in the 4th quarter worth approximately $36,000.

Medline Stock Down 0.4%

Shares of MDLN stock opened at $39.44 on Wednesday. The business has a fifty day moving average price of $38.68. 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 capitalization of $51.81 billion and a PE ratio of 123.25. Medline has a twelve month low of $32.81 and a twelve month high of $50.88.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion for the quarter. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts expect that Medline will post 1.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDLN has been the subject of a number of recent analyst reports. Citigroup decreased their target price on Medline from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, May 7th. BTIG Research reiterated a “buy” rating and issued a $55.00 price target on shares of Medline in a report on Thursday, May 7th. Robert W. Baird reduced their price objective on shares of Medline from $57.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Sanford C. Bernstein decreased their price objective on shares of Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.54.

Insider Activity

In other Medline news, insider Jessi L. Corcoran purchased 5,000 shares of the 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 transaction, the insider directly owned 5,000 shares in the company, valued at approximately $170,750. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 23,899 shares in the company, valued at $878,766.23. The trade was a 80.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is owned by company insiders.

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.