ABN Amro Investment Solutions Makes New Investment in Medline $MDLN

ABN Amro Investment Solutions bought a new stake in shares of Medline (NASDAQ:MDLN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,607 shares of the company’s stock, valued at approximately $606,000.

A number of other institutional investors have also recently made changes to their positions in MDLN. Sound Income Strategies LLC bought a new stake in shares of Medline in the fourth quarter worth approximately $25,000. Entrust Financial LLC bought a new position in Medline during the fourth quarter valued at approximately $26,000. NBC Securities Inc. bought a new position in Medline during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC purchased a new stake in Medline in the first quarter worth approximately $30,000. Finally, Global Retirement Partners LLC bought a new stake in Medline in the 4th quarter worth approximately $31,000.

Insiders Place Their Bets

In related news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction on 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 owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This represents a 80.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessi L. Corcoran bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the acquisition, the insider directly owned 5,000 shares in the company, valued at $170,750. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MDLN shares. Tigress Financial boosted their target price on shares of Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. BNP Paribas Exane dropped their price target on Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. William Blair reaffirmed an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Citigroup reduced their price objective on Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, BTIG Research reissued a “buy” rating and issued a $55.00 target price on shares of Medline in a report on Thursday, May 7th. One 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 given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.54.

Medline Trading Up 3.0%

Medline stock opened at $38.75 on Friday. The firm has a 50 day moving average of $37.79 and a 200 day moving average of $41.92. The firm has a market capitalization of $50.91 billion and a price-to-earnings ratio of 121.09. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. 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 (NASDAQ:MDLN) last released its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $7.35 billion for the quarter. The company’s revenue was up 10.7% on a year-over-year basis. As a group, research analysts predict that Medline will post 1.49 earnings per share 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.