Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires Shares of 118,251 Medline $MDLN

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Medline (NASDAQ:MDLN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 118,251 shares of the company’s stock, valued at approximately $5,262,000.

Several other institutional investors have also recently made changes to their positions in MDLN. Mass General Brigham Inc purchased a new stake in shares of Medline during the 4th quarter valued at $1,104,000. Baillie Gifford & Co. purchased a new position in shares of Medline in the 4th quarter worth about $437,236,000. Massachusetts Financial Services Co. MA bought a new position in Medline during the fourth quarter valued at about $429,544,000. UBS Group AG bought a new position in Medline during the fourth quarter valued at about $54,707,000. Finally, Pictet Asset Management Holding SA purchased a new stake in Medline during the fourth quarter worth about $48,996,000.

Analysts Set New Price Targets

Several analysts have commented on MDLN shares. Sanford C. Bernstein lowered their price objective on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft set a $42.00 target price on shares of Medline in a research report on Thursday, May 7th. Citigroup lowered their price target on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. William Blair reaffirmed an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Finally, Tigress Financial upped their price objective on Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.54.

Medline Stock Performance

MDLN stock opened at $43.19 on Friday. The stock has a 50 day moving average of $38.38. The company has a market capitalization of $56.74 billion and a PE ratio of 134.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. Medline has a 1-year low of $32.81 and a 1-year high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly 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 company had revenue of $7.35 billion during the quarter. Medline’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Medline will post 1.49 EPS for the current fiscal year.

Insiders Place Their Bets

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

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.