Medline Sees Unusually High Options Volume (NASDAQ:MDLN)

Medline (NASDAQ:MDLN) was the recipient of some unusual options trading on Monday. Stock traders acquired 20,383 put options on the stock. This is an increase of 975% compared to the average volume of 1,896 put options.

Medline Price Performance

Shares of MDLN stock traded up $0.79 during trading hours on Monday, reaching $39.66. 4,509,229 shares of the company traded hands, compared to its average volume of 7,347,538. The stock’s 50-day moving average price is $38.99. The stock has a market cap of $52.10 billion and a P/E ratio of 124.11. 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 12-month low of $32.81 and a 12-month high of $50.88.

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. Sell-side analysts predict that Medline will post 1.49 EPS for the current year.

Wall Street Analyst Weigh In

MDLN has been the subject of several research reports. Citigroup reduced their price target on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Sanford C. Bernstein cut their target price on shares of Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. William Blair reaffirmed an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft set a $42.00 price target on shares of Medline in a research report on Thursday, May 7th. Finally, Robert W. Baird cut their price objective on shares of Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. One equities 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.54.

Insiders Place Their Bets

In other 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 transaction, the insider directly owned 23,899 shares in the company, valued at $878,766.23. This trade represents a 80.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jessi L. Corcoran acquired 5,000 shares of the business’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 of the company’s stock, valued at $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. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Carlyle Group Inc. bought a new position in Medline in the 4th quarter worth $9,042,728,000. H&F Corporate Investors X Ltd. bought a new stake in Medline during the fourth quarter valued at about $4,179,591,000. Vanguard Group Inc. purchased a new position in shares of Medline in the fourth quarter valued at about $793,278,000. Morgan Stanley bought a new position in shares of Medline in the fourth quarter worth about $636,807,000. Finally, Capital Research Global Investors purchased a new stake in shares of Medline during the fourth quarter worth about $620,937,000.

About Medline

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.