WCM Investment Management LLC Sells 105,852 Shares of Medline $MDLN

WCM Investment Management LLC cut its holdings in Medline (NASDAQ:MDLN) by 1.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,218,731 shares of the company’s stock after selling 105,852 shares during the quarter. WCM Investment Management LLC’s holdings in Medline were worth $307,662,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Tigress Financial raised 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. Citigroup cut their price objective on Medline from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on Medline in a research report on Thursday, May 7th. Finally, BNP Paribas Exane dropped their target price on Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Medline currently has a consensus rating of “Moderate Buy” and an average price target of $50.54.

Medline Price Performance

MDLN opened at $39.79 on Monday. The company has a current ratio of 4.41, a quick ratio of 2.51 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 company has a market capitalization of $52.27 billion and a PE ratio of 124.34. The firm’s 50 day simple moving average is $37.79 and its two-hundred day simple moving average is $42.04.

Medline (NASDAQ:MDLN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. The business’s revenue was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that Medline will post 1.49 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jessi L. Corcoran purchased 5,000 shares of Medline stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the transaction, the insider directly owned 5,000 shares in the company, valued at $170,750. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of the firm’s stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently 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.