Mitsubishi UFJ Trust & Banking Corp Acquires New Shares in Medline $MDLN

Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Medline (NASDAQ:MDLN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 109,359 shares of the company’s stock, valued at approximately $4,593,000.

A number of other large investors have also made changes to their positions in the company. Comerica Bank bought a new stake in shares of Medline in the 4th quarter valued at $204,000. Pictet Asset Management Holding SA bought a new stake in shares of Medline in the 4th quarter valued at $48,996,000. UBS Group AG bought a new stake in shares of Medline in the 4th quarter valued at $54,707,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Medline in the 4th quarter valued at $2,768,000. Finally, Vanguard Group Inc. bought a new stake in shares of Medline in the 4th quarter valued at $793,278,000.

Wall Street Analyst Weigh In

A number of analysts recently commented on MDLN shares. JPMorgan Chase & Co. upped their price objective on shares of Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Barclays began coverage on shares of Medline in a research note on Monday, January 12th. They issued an “overweight” rating and a $50.00 target price for the company. Jefferies Financial Group began coverage on Medline in a report on Monday, January 12th. They set a “buy” rating and a $50.00 target price for the company. BTIG Research reiterated a “buy” rating and set a $55.00 target price on shares of Medline in a report on Monday, March 9th. Finally, Zacks Research upgraded Medline to a “hold” rating in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.62.

Medline Price Performance

Shares of NASDAQ MDLN opened at $44.75 on Monday. The firm has a 50-day moving average of $44.81. Medline has a fifty-two week low of $34.89 and a fifty-two week high of $50.88.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.25). The firm had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.52 billion. Medline’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that Medline will post 1.46 EPS for the current fiscal 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.