Medline $MDLN Shares Acquired by First Trust Advisors LP

First Trust Advisors LP increased its holdings in shares of Medline (NASDAQ:MDLN) by 18.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,394,409 shares of the company’s stock after buying an additional 218,188 shares during the period. First Trust Advisors LP’s holdings in Medline were worth $62,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Mass General Brigham Inc purchased a new position in Medline during the fourth quarter valued at $1,104,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Medline during the 1st quarter worth about $1,177,000. Baillie Gifford & Co. acquired a new position in shares of Medline during the 4th quarter worth about $437,236,000. Massachusetts Financial Services Co. MA purchased a new position in Medline in the 4th quarter valued at about $429,544,000. Finally, UBS Group AG purchased a new position in Medline in the 4th quarter valued at about $54,707,000.

Insiders Place Their Bets

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider directly owned 23,899 shares of the company’s stock, valued at $878,766.23. This trade represents a 80.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessi L. Corcoran purchased 5,000 shares of Medline stock in a transaction dated Friday, June 5th. The shares were bought at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the acquisition, the insider owned 5,000 shares in the company, valued at approximately $170,750. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 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 objective on Medline in a research note on Thursday, May 7th. Tigress Financial lifted their price target on Medline from $60.00 to $62.00 and gave the stock 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 for the company in a research report on Thursday, May 14th. Weiss Ratings downgraded Medline from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Finally, Citigroup lowered their target price on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Medline presently has an average rating of “Moderate Buy” and a consensus target price of $50.54.

Medline Trading Up 3.0%

Shares of Medline stock opened at $38.75 on Friday. The stock has a market cap of $50.91 billion and a P/E ratio of 121.09. The stock’s 50 day simple moving average is $37.79 and its 200-day simple moving average is $41.92. Medline has a 1-year low of $32.81 and a 1-year high of $50.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51.

Medline (NASDAQ:MDLN) last posted its quarterly 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 company had revenue of $7.35 billion during the quarter. The firm’s revenue was up 10.7% on a year-over-year basis. Analysts predict that Medline will post 1.49 EPS for the current fiscal 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.