Douglas Golwas Sells 100,000 Shares of Medline (NASDAQ:MDLN) Stock

Medline (NASDAQ:MDLN) insider Douglas Golwas sold 100,000 shares of Medline stock in a transaction dated Tuesday, June 16th. The stock was 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 directly owned 23,899 shares in the company, valued at $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Medline Price Performance

Shares of MDLN stock traded down $0.67 during trading hours on Wednesday, hitting $36.42. The stock had a trading volume of 10,830,182 shares, compared to its average volume of 7,286,265. Medline has a one year low of $32.81 and a one year high of $50.88. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $40.48. The stock has a market capitalization of $47.84 billion and a PE ratio of 113.81.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. The company’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that Medline will post 1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its position in shares of Medline by 1,073.3% during the first quarter. Parallel Advisors LLC now owns 5,280 shares of the company’s stock valued at $235,000 after buying an additional 4,830 shares during the period. CTC Alternative Strategies Ltd. purchased a new position in shares of Medline during the first quarter valued at approximately $1,048,000. Janus Henderson Group PLC boosted its position in shares of Medline by 8.4% during the first quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock valued at $506,546,000 after buying an additional 887,240 shares during the period. Arkadios Wealth Advisors purchased a new position in shares of Medline during the first quarter valued at approximately $530,000. Finally, Amundi purchased a new position in shares of Medline during the first quarter valued at approximately $1,358,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDLN. Morgan Stanley lifted their target price on Medline from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Royal Bank Of Canada boosted their target price on Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Stifel Nicolaus set a $55.00 target price on Medline in a research report on Wednesday, February 25th. BMO Capital Markets boosted their target price on Medline from $45.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Finally, BNP Paribas Exane cut their target price on Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

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.