HBK Investments L P Has $12.82 Million Stock Holdings in Medline $MDLN

HBK Investments L P decreased its holdings in shares of Medline (NASDAQ:MDLN) by 23.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 325,000 shares of the company’s stock after selling 100,000 shares during the period. HBK Investments L P’s holdings in Medline were worth $12,818,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Medline by 68.3% during the second quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock worth $25,000 after purchasing an additional 254 shares during the period. NewEdge Advisors LLC lifted its stake in Medline by 100.0% in the second quarter. NewEdge Advisors LLC now owns 950 shares of the company’s stock valued at $37,000 after buying an additional 475 shares during the period. Allworth Financial LP boosted its holdings in Medline by 86.2% during the second quarter. Allworth Financial LP now owns 1,052 shares of the company’s stock worth $41,000 after buying an additional 487 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in Medline by 60.2% during the first quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock worth $61,000 after buying an additional 512 shares during the last quarter. Finally, Entrust Financial LLC acquired a new position in shares of Medline during the 4th quarter worth about $26,000.

Medline Stock Up 2.7%

MDLN stock traded up $0.88 during mid-day trading on Wednesday, hitting $32.99. 10,942,772 shares of the company were exchanged, compared to its average volume of 7,295,049. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33. The firm has a market cap of $43.37 billion and a P/E ratio of 41.76. The firm’s 50 day simple moving average is $36.72 and its 200 day simple moving average is $39.54. Medline has a 1-year low of $31.63 and a 1-year high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.18. The company had revenue of $7.68 billion during the quarter. On average, sell-side analysts predict that Medline will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. William Blair reiterated an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. Citigroup upgraded shares of Medline to a “strong-buy” rating in a report on Wednesday, August 5th. Truist Financial lowered their target price on shares of Medline from $56.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Medline from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft set a $37.00 price target on shares of Medline in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Medline currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.42.

Insider Buying and Selling

In related news, major shareholder Private Ltd Gic sold 100,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $35.80, for a total value of $3,580,000.00. Following the completion of the transaction, the insider directly owned 22,802,482 shares of the company’s stock, valued at approximately $816,328,855.60. This represents a 0.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 4,438,896 shares of company stock valued at $158,259,454. Insiders own 0.81% of the company’s stock.

Medline Company Profile

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies and clinical products. Its offerings include surgical and exam gloves, personal protective equipment, operating-room supplies, wound-care products, patient-care items, laboratory products, apparel, and durable medical equipment.

The company serves hospitals, health systems, ambulatory surgery centers, physicians’ offices, long-term-care facilities, home-health providers, and other healthcare organizations.