Medline $MDLN Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC grew its position in Medline (NASDAQ:MDLN) by 100.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,448 shares of the company’s stock after purchasing an additional 13,239 shares during the period. Lazard Asset Management LLC’s holdings in Medline were worth $1,177,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MDLN. Weiss Asset Management LP raised its holdings in shares of Medline by 1.3% during the first quarter. Weiss Asset Management LP now owns 213,178 shares of the company’s stock valued at $9,486,000 after buying an additional 2,787 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in Medline in the 1st quarter worth approximately $423,000. Bradley Foster & Sargent Inc. CT bought a new position in Medline in the 1st quarter worth approximately $17,331,000. Unisphere Establishment increased its position in Medline by 50.5% in the 1st quarter. Unisphere Establishment now owns 2,482,500 shares of the company’s stock valued at $110,471,000 after acquiring an additional 832,500 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Medline by 233.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock valued at $222,500,000 after acquiring an additional 3,500,000 shares during the period.

Wall Street Analysts Forecast Growth

MDLN has been the subject of a number of analyst reports. BNP Paribas Exane reduced their price target on Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Barclays lowered their price target on Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, June 1st. Citigroup reduced their price objective on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Sanford C. Bernstein decreased 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. Finally, BTIG Research reissued a “buy” rating and set a $55.00 target price on shares of Medline in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Medline presently has an average rating of “Moderate Buy” and an average price target of $50.54.

Insider Activity

In other Medline news, insider Jessi L. Corcoran purchased 5,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the transaction, the insider owned 5,000 shares in the company, valued at $170,750. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the company’s 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 completion of the sale, the insider directly 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. 0.81% of the stock is currently owned by insiders.

Medline Stock Performance

Shares of NASDAQ MDLN opened at $42.04 on Wednesday. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The firm has a market cap of $55.23 billion and a P/E ratio of 131.38. The stock has a fifty day moving average price of $38.27 and a two-hundred day moving average price of $41.88. 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 (NASDAQ:MDLN) last posted its quarterly earnings data 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 during the quarter. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts forecast that Medline will post 1.49 EPS for the current fiscal year.

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.