Medline $MDLN Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC grew its stake in shares of Medline (NASDAQ:MDLN) by 100.2% in the 1st quarter, HoldingsChannel reports. The firm owned 26,448 shares of the company’s stock after acquiring an additional 13,239 shares during the quarter. Lazard Asset Management LLC’s holdings in Medline were worth $1,177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MDLN. Carlyle Group Inc. acquired a new stake in Medline during the 4th quarter worth about $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new position in shares of Medline in the fourth quarter worth about $4,179,591,000. Vanguard Group Inc. acquired a new position in shares of Medline in the fourth quarter worth about $793,278,000. Morgan Stanley purchased a new position in shares of Medline in the fourth quarter worth approximately $636,807,000. Finally, Capital Research Global Investors acquired a new stake in shares of Medline during the fourth quarter valued at approximately $620,937,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Sanford C. Bernstein reduced their price target on shares of Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Citigroup cut their target price on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Tigress Financial increased their target price on Medline from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. William Blair reaffirmed an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Medline Stock Performance

MDLN stock opened at $42.04 on Wednesday. The firm has a 50 day simple moving average of $38.27 and a 200 day simple moving average of $41.88. Medline has a 52 week low of $32.81 and a 52 week high of $50.88. The stock has a market cap of $55.23 billion and a P/E ratio of 131.38. 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 quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion during the quarter. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts anticipate that Medline will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Medline

In related news, insider Jessi L. Corcoran purchased 5,000 shares of the stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the acquisition, the insider directly owned 5,000 shares in the company, valued at approximately $170,750. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders own 0.81% of the company’s stock.

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.