Pictet Asset Management Holding SA Buys 291,438 Shares of Medline $MDLN

Pictet Asset Management Holding SA grew its holdings in Medline (NASDAQ:MDLN) by 25.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,458,011 shares of the company’s stock after acquiring an additional 291,438 shares during the quarter. Pictet Asset Management Holding SA owned 0.11% of Medline worth $64,881,000 as of its most recent SEC filing.

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

Medline Price Performance

Medline stock opened at $39.61 on Tuesday. The firm has a 50 day moving average price of $38.84. The firm has a market capitalization of $52.04 billion and a P/E ratio of 123.78. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51.

Medline (NASDAQ:MDLN) last posted its earnings results on Wednesday, May 6th. The company reported $0.33 EPS 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 quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Medline will post 1.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MDLN shares. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on Medline in a research note on Thursday, May 7th. Sanford C. Bernstein decreased their price target on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Robert W. Baird dropped their price objective on shares of Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. BTIG Research restated a “buy” rating and issued a $55.00 target price on shares of Medline in a research report on Thursday, May 7th. Finally, Weiss Ratings cut shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Insider Buying and Selling at Medline

In other Medline news, insider Jessi L. Corcoran acquired 5,000 shares of Medline stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the purchase, the insider directly owned 5,000 shares in the company, valued at $170,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider owned 23,899 shares of the company’s stock, valued at $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.