Pictet Asset Management Holding SA Makes New $49 Million Investment in Medline $MDLN

Pictet Asset Management Holding SA bought a new stake in Medline (NASDAQ:MDLN) in the fourth quarter, HoldingsChannel.com reports. The firm bought 1,166,573 shares of the company’s stock, valued at approximately $48,996,000.

Several other institutional investors and hedge funds have also modified their holdings of MDLN. Perigon Wealth Management LLC bought a new position in Medline during the fourth quarter worth about $211,000. SteelPeak Wealth LLC acquired a new stake in Medline in the 4th quarter worth about $441,000. Sound Income Strategies LLC bought a new stake in Medline in the 4th quarter valued at about $25,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Medline during the 4th quarter worth approximately $429,544,000. Finally, Baillie Gifford & Co. acquired a new position in shares of Medline during the 4th quarter worth approximately $437,236,000.

Medline Trading Down 1.9%

Shares of NASDAQ:MDLN opened at $43.40 on Thursday. Medline has a 1 year low of $34.89 and a 1 year high of $50.88. The company has a 50 day moving average price of $44.87.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, February 25th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.25). The business had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.52 billion. The business’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts predict that Medline will post 1.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. TD Cowen initiated coverage on shares of Medline in a research report on Monday, January 12th. They issued a “buy” rating for the company. The Goldman Sachs Group initiated coverage on Medline in a research report on Monday, January 12th. They set a “buy” rating and a $49.00 price target on the stock. Morgan Stanley lifted their price objective on Medline from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Piper Sandler started coverage on Medline in a research report on Monday, January 12th. They set an “overweight” rating and a $50.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on Medline in a report on Monday, January 12th. They set a “hold” rating and a $40.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Medline has an average rating of “Moderate Buy” and an average target price of $50.62.

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.