Medline $MDLN Shares Bought by Readystate Asset Management LP

Readystate Asset Management LP lifted its holdings in shares of Medline (NASDAQ:MDLN) by 32.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 320,000 shares of the company’s stock after acquiring an additional 78,683 shares during the quarter. Readystate Asset Management LP’s holdings in Medline were worth $12,621,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Mass General Brigham Inc grew its stake in Medline by 167.6% during the 1st quarter. Mass General Brigham Inc now owns 70,357 shares of the company’s stock valued at $3,131,000 after purchasing an additional 44,063 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Medline by 128.4% in the 1st quarter. Cetera Investment Advisers now owns 52,088 shares of the company’s stock valued at $2,318,000 after purchasing an additional 29,282 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Medline in the 1st quarter valued at approximately $1,177,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Medline by 138.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 157,200 shares of the company’s stock valued at $6,995,000 after buying an additional 91,300 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Medline during the first quarter worth approximately $59,733,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. BMO Capital Markets restated an “outperform” rating and issued a $47.00 price target on shares of Medline in a research note on Thursday, August 6th. Wells Fargo & Company decreased their price objective on shares of Medline from $45.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Citigroup raised shares of Medline to a “strong-buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada cut their target price on shares of Medline from $53.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, BTIG Research reaffirmed a “buy” rating and set a $55.00 price target on shares of Medline in a research report on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Medline has an average rating of “Moderate Buy” and an average target price of $47.42.

Insider Transactions at Medline

In other news, insider Douglas 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 trade represents a 80.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Private Ltd Gic sold 1,976,618 shares of Medline stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.60, for a total transaction of $70,367,600.80. Following the completion of the transaction, the insider directly owned 25,264,760 shares of the company’s stock, valued at $899,425,456. This trade represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 4,538,896 shares of company stock worth $161,936,454. Insiders own 0.81% of the company’s stock.

Medline Stock Performance

MDLN stock opened at $36.59 on Monday. The stock’s 50 day simple moving average is $37.87 and its 200 day simple moving average is $40.28. Medline has a 12-month low of $32.49 and a 12-month high of $50.88. The firm has a market cap of $48.11 billion and a P/E ratio of 46.32. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66.

Medline (NASDAQ:MDLN) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. The business had revenue of $7.68 billion during the quarter. As a group, equities research analysts predict that Medline will post 1.51 EPS for the current year.

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.