Pictet Asset Management Holding SA Purchases 291,438 Shares of Medline $MDLN

Pictet Asset Management Holding SA raised its position in Medline (NASDAQ:MDLN) by 25.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,458,011 shares of the company’s stock after purchasing an additional 291,438 shares during the period. Pictet Asset Management Holding SA’s holdings in Medline were worth $64,881,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MDLN. Perigon Wealth Management LLC bought a new position in Medline during the fourth quarter worth $211,000. SteelPeak Wealth LLC acquired a new position in Medline in the fourth quarter valued at $441,000. Sound Income Strategies LLC bought a new stake in Medline during the fourth quarter valued at $25,000. Massachusetts Financial Services Co. MA bought a new stake in Medline during the fourth quarter valued at $429,544,000. Finally, Baillie Gifford & Co. acquired a new stake in Medline during the 4th quarter worth about $437,236,000.

Insider Buying and Selling

In other news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the transaction, the insider directly owned 23,899 shares of the company’s stock, valued at $878,766.23. This represents a 80.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jessi L. Corcoran bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the acquisition, the insider owned 5,000 shares in the company, valued at $170,750. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MDLN shares. Citigroup dropped their price objective on Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft set a $42.00 target price on Medline in a research note on Thursday, May 7th. Weiss Ratings lowered Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Sanford C. Bernstein cut their price target on Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, Tigress Financial raised their price objective on shares of Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.54.

Medline Price Performance

MDLN stock opened at $39.61 on Tuesday. The company has a market cap of $52.04 billion and a PE ratio of 123.78. The stock’s 50-day moving average is $38.84. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. Medline has a 1 year low of $32.81 and a 1 year high of $50.88.

Medline (NASDAQ:MDLN) last issued 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 during the quarter. Medline’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts anticipate that Medline will post 1.49 earnings per share for the current fiscal year.

Medline 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.