Medline $MDLN Shares Bought by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC boosted its position in Medline (NASDAQ:MDLN) by 912.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 554,224 shares of the company’s stock after buying an additional 499,459 shares during the period. Douglas Lane & Associates LLC’s holdings in Medline were worth $19,232,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Artisan Partners Limited Partnership acquired a new position in shares of Medline in the 4th quarter valued at about $192,847,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Medline by 233.3% in the first 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 buying an additional 3,500,000 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Medline by 39,404.0% during the 1st quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock worth $155,929,000 after buying an additional 3,495,136 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Medline in the 4th quarter valued at $79,800,000. Finally, Eminence Capital LP bought a new position in Medline during the fourth quarter worth $63,210,000.

Insider Buying and Selling

In related news, major shareholder Private Ltd Gic sold 2,570,999 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $35.35, for a total transaction of $90,884,814.65. Following the completion of the transaction, the insider directly owned 20,231,483 shares in the company, valued at $715,182,924.05. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 10,787,572 shares of company stock worth $382,784,591 in the last three months. 0.81% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MDLN shares. Robert W. Baird set a $42.00 price objective on shares of Medline in a report on Thursday, August 6th. Royal Bank Of Canada decreased their target price on Medline from $53.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. BTIG Research reaffirmed a “buy” rating and set a $55.00 target price on shares of Medline in a research report on Thursday, August 27th. Truist Financial reduced their price target on shares of Medline from $56.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Evercore set a $39.00 price target on shares of Medline in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.81.

Medline Stock Performance

NASDAQ:MDLN traded up $0.29 on Friday, reaching $36.03. 1,873,881 shares of the company’s stock were exchanged, compared to its average volume of 7,509,068. Medline has a 52 week low of $31.49 and a 52 week high of $50.88. The firm has a market cap of $47.37 billion and a price-to-earnings ratio of 45.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61. The stock has a fifty day simple moving average of $34.95 and a 200-day simple moving average of $38.44.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. The business had revenue of $7.68 billion for the quarter. As a group, sell-side analysts predict that Medline will post 1.51 earnings per share for the current year.

Medline Profile

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies, clinical products and equipment to hospitals, health systems, physician practices, long-term care facilities, surgery centers and other healthcare providers. Its offerings are designed to support patient care, surgical procedures, infection prevention and healthcare facility operations.

The company’s product portfolio includes surgical instruments and supplies, exam gloves and protective apparel, wound care products, patient-care items, respiratory and monitoring equipment, laboratory supplies, durable medical equipment and products for environmental and facility management.