Unisphere Establishment Purchases 832,500 Shares of Medline $MDLN

Unisphere Establishment grew its position in Medline (NASDAQ:MDLN) by 50.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,482,500 shares of the company’s stock after purchasing an additional 832,500 shares during the period. Medline comprises about 0.9% of Unisphere Establishment’s portfolio, making the stock its 26th largest holding. Unisphere Establishment’s holdings in Medline were worth $110,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mass General Brigham Inc bought a new position in shares of Medline during the 4th quarter worth approximately $1,104,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Medline in the 1st quarter worth approximately $1,177,000. Baillie Gifford & Co. bought a new position in shares of Medline in the fourth quarter valued at approximately $437,236,000. Massachusetts Financial Services Co. MA bought a new position in shares of Medline in the fourth quarter valued at approximately $429,544,000. Finally, UBS Group AG purchased a new stake in shares of Medline during the fourth quarter valued at approximately $54,707,000.

Analyst Ratings Changes

A number of brokerages recently commented on MDLN. BNP Paribas Exane dropped their price target on Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. William Blair reaffirmed an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. Sanford C. Bernstein lowered their target price on Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Citigroup cut their price target on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Barclays reduced their price target on shares of Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, June 1st. 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. According to data from MarketBeat.com, Medline presently has an average rating of “Moderate Buy” and an average target price of $50.54.

Insider Transactions at Medline

In related news, insider Douglas P. Golwas sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the sale, the insider directly owned 23,899 shares in the company, valued at approximately $878,766.23. The trade was a 80.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessi L. Corcoran acquired 5,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $170,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.81% of the company’s stock.

Medline Stock Performance

NASDAQ:MDLN opened at $38.75 on Friday. The company has a market capitalization of $50.91 billion and a P/E ratio of 121.09. The business has a fifty day simple moving average of $37.79 and a two-hundred day simple moving average of $41.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. Medline has a 1 year low of $32.81 and a 1 year high of $50.88.

Medline (NASDAQ:MDLN) last issued its quarterly 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 business’s revenue was up 10.7% on a year-over-year basis. On average, analysts expect that Medline will post 1.49 earnings per share for the current 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.