ExodusPoint Capital Management LP Acquires Shares of 530,474 Medline $MDLN

ExodusPoint Capital Management LP acquired a new stake in shares of Medline (NASDAQ:MDLN) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 530,474 shares of the company’s stock, valued at approximately $22,280,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Carlyle Group Inc. purchased a new stake in Medline during the 4th quarter valued at approximately $9,042,728,000. H&F Corporate Investors X Ltd. purchased a new stake in Medline during the 4th quarter valued at approximately $4,179,591,000. Vanguard Group Inc. purchased a new stake in Medline during the 4th quarter valued at approximately $793,278,000. Morgan Stanley purchased a new stake in Medline during the 4th quarter valued at approximately $636,807,000. Finally, Capital Research Global Investors purchased a new stake in Medline during the 4th quarter valued at approximately $620,937,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MDLN. Sanford C. Bernstein cut their price objective on shares of Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. UBS Group increased their price objective on shares of Medline from $48.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, February 26th. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Medline in a report on Thursday, May 7th. Citigroup cut their price objective on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, Stifel Nicolaus set a $55.00 target price on Medline in a research report on Wednesday, February 25th. 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’s stock. According to MarketBeat, Medline currently has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Insider Activity at Medline

In other news, insider Jessi L. Corcoran bought 5,000 shares of the stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the transaction, the insider owned 5,000 shares of the company’s stock, valued at $170,750. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.81% of the company’s stock.

Medline Stock Performance

NASDAQ MDLN opened at $37.09 on Wednesday. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. The company has a market cap of $48.72 billion and a P/E ratio of 115.91. Medline has a one year low of $32.81 and a one year high of $50.88. The firm’s 50 day moving average price is $40.48.

Medline (NASDAQ:MDLN) last posted its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $7.35 billion for the quarter. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that Medline will post 1.49 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.