PensionDanmark Pensionsforsikringsaktieselskab Sells 114,499 Shares of Medline $MDLN

PensionDanmark Pensionsforsikringsaktieselskab reduced its position in Medline (NASDAQ:MDLN) by 95.8% in the 2nd quarter, Holdings Channel reports. The firm owned 5,000 shares of the company’s stock after selling 114,499 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Medline were worth $197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MDLN. Sound Income Strategies LLC bought a new position in Medline during the fourth quarter worth about $25,000. Baillie Gifford & Co. acquired a new stake in Medline in the 4th quarter valued at about $437,236,000. Mass General Brigham Inc bought a new position in Medline in the 4th quarter worth approximately $1,104,000. WPG Advisers LLC bought a new stake in shares of Medline during the fourth quarter worth $38,000. Finally, Nadler Financial Group Inc. bought a new stake in Medline during the 4th quarter worth about $354,000.

Insider Buying and Selling

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Private Ltd Gic sold 1,976,618 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.60, for a total transaction of $70,367,600.80. Following the completion of the transaction, the insider directly owned 25,264,760 shares in the company, valued at approximately $899,425,456. This represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,348,612 shares of company stock worth $83,654,149. Company insiders own 0.81% of the company’s stock.

Medline Price Performance

NASDAQ:MDLN opened at $33.81 on Tuesday. The company has a market cap of $44.42 billion and a P/E ratio of 105.66. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61. Medline has a one year low of $32.81 and a one year high of $50.88. The firm’s fifty day moving average price is $38.18 and its two-hundred day moving average price is $41.63.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.18. The firm had revenue of $7.68 billion during the quarter. Equities analysts expect that Medline will post 1.49 earnings per share for the current year.

Analyst Ratings Changes

MDLN has been the subject of a number of analyst reports. TD Cowen lowered their target price on shares of Medline from $53.00 to $45.00 and set a “buy” rating for the company in a report on Monday. Barclays cut their price objective on Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, June 1st. Evercore set a $39.00 target price on shares of Medline in a research note on Thursday. Weiss Ratings raised Medline from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft set a $37.00 price objective on shares of Medline in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.46.

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.