Maryland State Retirement & Pension System Makes New Investment in Medline $MDLN

Maryland State Retirement & Pension System purchased a new position in Medline (NASDAQ:MDLN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,437 shares of the company’s stock, valued at approximately $731,000.

A number of other institutional investors have also 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 shares of Medline in the fourth quarter valued at approximately $26,000. NBC Securities Inc. bought a new position in shares of Medline in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC purchased a new position in Medline during the first quarter valued at approximately $30,000. Finally, Global Retirement Partners LLC purchased a new position in Medline during the fourth quarter valued at approximately $31,000.

Insider Activity

In other news, insider Jessi L. Corcoran acquired 5,000 shares of Medline stock in a transaction dated 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 transaction, the insider owned 5,000 shares of the company’s stock, valued at $170,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the transaction, the insider directly owned 23,899 shares in the company, valued at approximately $878,766.23. This represents a 80.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MDLN. Deutsche Bank Aktiengesellschaft set a $42.00 target price on shares of Medline in a research note on Thursday, May 7th. BNP Paribas Exane decreased their price target on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Tigress Financial increased their price objective on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Barclays dropped their price objective on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, June 1st. Finally, William Blair restated an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.54.

Medline Stock Performance

NASDAQ MDLN opened at $41.11 on Friday. Medline has a 52-week low of $32.81 and a 52-week high of $50.88. The company has a fifty day moving average of $37.79 and a 200-day moving average of $42.06. The company has a market capitalization of $54.01 billion and a P/E ratio of 128.47. 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 released its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. As a group, equities research analysts predict that Medline will post 1.49 EPS for the current fiscal year.

Medline 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.