Rockefeller Capital Management L.P. Invests $506,000 in Medline $MDLN

Rockefeller Capital Management L.P. purchased a new position in shares of Medline (NASDAQ:MDLN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,044 shares of the company’s stock, valued at approximately $506,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in shares of Medline in the fourth quarter valued at about $25,000. Entrust Financial LLC bought a new position in shares of Medline in the fourth quarter worth about $26,000. NBC Securities Inc. acquired a new position in shares of Medline during the fourth quarter worth approximately $28,000. Global Retirement Partners LLC bought a new stake in shares of Medline during the fourth quarter valued at approximately $31,000. Finally, North Star Investment Management Corp. acquired a new stake in shares of Medline in the fourth quarter valued at approximately $36,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on MDLN. Sanford C. Bernstein reduced their price objective on Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, March 10th. Citigroup dropped their target price on Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a report on Thursday, May 7th. Finally, William Blair reiterated an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Medline Stock Performance

Shares of MDLN stock opened at $43.19 on Monday. The firm has a 50 day simple moving average of $38.38. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. Medline has a 52-week low of $32.81 and a 52-week high of $50.88. The company has a market capitalization of $56.74 billion and a PE ratio of 134.97.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. Medline’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Medline will post 1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jessi L. Corcoran acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price 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. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is owned by insiders.

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.