Mawer Investment Management Ltd. Buys Shares of 225,000 Medline $MDLN

Mawer Investment Management Ltd. purchased a new position in Medline (NASDAQ:MDLN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 225,000 shares of the company’s stock, valued at approximately $9,450,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mass General Brigham Inc bought a new position in Medline in the 4th quarter valued at $1,104,000. Baillie Gifford & Co. bought a new stake in shares of Medline during the fourth quarter worth $437,236,000. UBS Group AG purchased a new stake in shares of Medline during the fourth quarter valued at $54,707,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Medline during the fourth quarter valued at $429,544,000. Finally, Pictet Asset Management Holding SA bought a new position in shares of Medline in the fourth quarter worth about $48,996,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MDLN shares. Barclays decreased their price objective on shares of Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday. Citigroup reduced their target price on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company lifted their price target on shares of Medline from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a report on Thursday, May 7th. Finally, Leerink Partners set a $56.00 price objective on Medline in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Medline currently has an average rating of “Moderate Buy” and an average target price of $50.65.

Medline Stock Down 2.2%

Shares of NASDAQ:MDLN opened at $35.75 on Tuesday. The business has a 50 day simple moving average of $42.14. Medline has a 52 week low of $34.34 and a 52 week high of $50.88.

Medline (NASDAQ:MDLN) last announced its earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion for the quarter. The company’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts predict that Medline will post 1.5 EPS for the current fiscal year.

About Medline

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.