Medline $MDLN Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its stake in Medline (NASDAQ:MDLN) by 61.4% during the 1st quarter, Holdings Channel reports. The fund owned 1,327,179 shares of the company’s stock after purchasing an additional 504,713 shares during the quarter. Sei Investments Co.’s holdings in Medline were worth $59,060,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Sound Income Strategies LLC acquired a new stake in Medline in the 4th quarter valued at about $25,000. Entrust Financial LLC acquired a new stake in Medline in the fourth quarter valued at approximately $26,000. NBC Securities Inc. purchased a new position in Medline in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new position in Medline during the 1st quarter worth approximately $30,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Medline in the 4th quarter valued at approximately $31,000.

Insider Transactions at Medline

In other news, insider Douglas P. Golwas sold 100,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessi L. Corcoran purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average cost of $34.15 per share, with a total value of $170,750.00. Following the completion of the acquisition, the insider owned 5,000 shares of the company’s stock, valued at approximately $170,750. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.81% of the company’s stock.

Medline Stock Performance

Shares of MDLN opened at $38.75 on Friday. The company’s 50 day simple moving average is $37.79 and its 200-day simple moving average is $41.92. The firm has a market cap of $50.91 billion and a PE ratio of 121.09. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities analysts predict that Medline will post 1.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Sanford C. Bernstein reduced their price objective on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Barclays lowered their price objective on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on Medline in a report on Thursday, May 7th. William Blair reissued an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. Finally, Tigress Financial boosted their target price on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

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.