Medline Sees Unusually High Options Volume (NASDAQ:MDLN)

Medline (NASDAQ:MDLN) was the target of some unusual options trading on Monday. Stock traders acquired 20,383 put options on the stock. This is an increase of 975% compared to the average volume of 1,896 put options.

Medline Stock Performance

NASDAQ:MDLN opened at $40.52 on Wednesday. The company’s fifty day moving average is $38.68. The company has a market cap of $53.22 billion and a price-to-earnings ratio of 125.68. 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 has a 52-week low of $32.81 and a 52-week high of $50.88.

Medline (NASDAQ:MDLN) last posted 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 business’s revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that Medline will post 1.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on MDLN. Weiss Ratings lowered Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. BTIG Research reissued a “buy” rating and issued a $55.00 price target on shares of Medline in a research note on Thursday, May 7th. Sanford C. Bernstein cut their price target on Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. BNP Paribas Exane reduced their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft set a $42.00 target price on shares of Medline in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Medline presently has a consensus rating of “Moderate Buy” and an average price target of $50.54.

Insider Transactions at Medline

In related news, insider Jessi L. Corcoran purchased 5,000 shares of Medline stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the purchase, the insider owned 5,000 shares in the company, valued at approximately $170,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the business’s stock in a transaction on 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 sale, the insider owned 23,899 shares in the company, valued at $878,766.23. This represents a 80.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medline

A number of large investors have recently added to or reduced their stakes in MDLN. Sound Income Strategies LLC purchased a new position in Medline during the 4th quarter valued at about $25,000. Entrust Financial LLC bought a new position in Medline in the 4th quarter worth $26,000. NBC Securities Inc. bought a new stake in shares of Medline during the 4th quarter valued at about $28,000. Whipplewood Advisors LLC purchased a new position in shares of Medline during the first quarter valued at about $30,000. Finally, Global Retirement Partners LLC bought a new position in Medline in the fourth quarter worth about $31,000.

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.