Medline $MDLN Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its holdings in shares of Medline (NASDAQ:MDLN) by 61.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,327,179 shares of the company’s stock after purchasing an additional 504,713 shares during the period. Sei Investments Co. owned about 0.10% of Medline worth $59,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of MDLN. Carlyle Group Inc. purchased a new stake in Medline in the 4th quarter worth approximately $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new position in Medline in the 4th quarter worth about $4,179,591,000. Vanguard Group Inc. purchased a new position in Medline during the fourth quarter worth approximately $793,278,000. Morgan Stanley purchased a new position in Medline in the 4th quarter valued at about $636,807,000. Finally, Capital Research Global Investors purchased a new stake in Medline during the 4th quarter worth approximately $620,937,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Robert W. Baird lowered their price target on Medline from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Citigroup lowered their target price on Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Tigress Financial upped their price target on Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings cut Medline from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft set a $42.00 price objective on Medline in a research note on Thursday, May 7th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.54.

Medline Price Performance

NASDAQ:MDLN opened at $38.75 on Friday. Medline has a 52 week low of $32.81 and a 52 week high of $50.88. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $50.91 billion and a P/E ratio of 121.09. The stock’s fifty day moving average is $37.79 and its two-hundred day moving average is $41.92.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. Medline’s revenue was up 10.7% compared to the same quarter last year. Equities analysts expect that Medline will post 1.49 EPS for the current year.

Insider Activity at Medline

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 23,899 shares in the company, valued at $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 is available at the SEC website. Also, insider Jessi L. Corcoran purchased 5,000 shares of the stock in a transaction dated Friday, June 5th. The shares were purchased 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 owned 5,000 shares of the company’s stock, valued at approximately $170,750. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.81% of the company’s stock.

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.