Alberta Investment Management Corp Invests $19.95 Million in Medline $MDLN

Alberta Investment Management Corp acquired a new stake in Medline (NASDAQ:MDLN) during the fourth quarter, HoldingsChannel reports. The firm acquired 475,000 shares of the company’s stock, valued at approximately $19,950,000.

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

Analyst Ratings Changes

A number of research analysts recently commented on MDLN shares. William Blair reaffirmed an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. BMO Capital Markets boosted their price target on shares of Medline from $45.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Leerink Partners set a $56.00 price objective on shares of Medline in a research note on Wednesday, February 25th. Tigress Financial raised their price objective on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Barclays cut their target price on Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Medline has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Medline Stock Performance

NASDAQ MDLN opened at $35.94 on Friday. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $47.21 billion and a price-to-earnings ratio of 112.31. Medline has a one year low of $32.81 and a one year high of $50.88. The company has a fifty day simple moving average of $40.19.

Medline (NASDAQ:MDLN) last posted 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 company had revenue of $7.35 billion for the quarter. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts predict that Medline will post 1.49 earnings per share for the current year.

Insider Buying and Selling at Medline

In other news, insider Douglas P. Golwas sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessi L. Corcoran purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the completion of the acquisition, the insider directly owned 5,000 shares of the company’s stock, valued at $170,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.81% of the stock is owned by company insiders.

Medline Company 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.