Virtu Financial LLC Takes Position in Medline $MDLN

Virtu Financial LLC purchased a new position in shares of Medline (NASDAQ:MDLN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,394 shares of the company’s stock, valued at approximately $2,243,000.

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

Insider Transactions at Medline

In other news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the completion of the transaction, the insider directly owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This represents a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessi L. Corcoran bought 5,000 shares of the stock in a transaction dated Friday, June 5th. The shares were bought 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 approximately $170,750. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MDLN. Evercore reaffirmed an “outperform” rating and set a $55.00 price target on shares of Medline in a research report on Wednesday, February 25th. Royal Bank Of Canada boosted their price objective on Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Leerink Partners set a $56.00 price objective on Medline in a research note on Wednesday, February 25th. UBS Group increased their target price on Medline from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Robert W. Baird decreased their target price on Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Medline has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

Medline Stock Performance

Shares of NASDAQ:MDLN opened at $35.94 on Friday. The business’s fifty day simple moving average is $40.02. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. Medline has a 1-year low of $32.81 and a 1-year high of $50.88. The firm has a market capitalization of $47.21 billion and a PE ratio of 112.31.

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 business had revenue of $7.35 billion during the quarter. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Sell-side analysts expect 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.