Insider Selling: Medline (NASDAQ:MDLN) Major Shareholder Sells 1,500,000 Shares

Medline (NASDAQ:MDLN) major shareholder Private Ltd Gic sold 1,500,000 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $35.80, for a total transaction of $53,700,000.00. Following the completion of the sale, the insider directly owned 22,902,482 shares of the company’s stock, valued at approximately $819,908,855.60. This trade represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Private Ltd Gic also recently made the following trade(s):

• On Friday, August 14th, Private Ltd Gic sold 100,000 shares of Medline stock. The shares were sold at an average price of $35.80, for a total transaction of $3,580,000.00.
• On Friday, August 7th, Private Ltd Gic sold 590,284 shares of Medline stock. The shares were sold at an average price of $35.58, for a total transaction of $21,002,304.72.
• On Thursday, August 6th, Private Ltd Gic sold 271,994 shares of Medline stock. The stock was sold at an average price of $35.33, for a total value of $9,609,548.02.
• On Wednesday, August 5th, Private Ltd Gic sold 1,976,618 shares of Medline stock. The shares were sold at an average price of $35.60, for a total value of $70,367,600.80.

Medline Stock Performance

Medline stock traded down $0.86 during trading hours on Monday, hitting $34.88. The stock had a trading volume of 3,699,226 shares, compared to its average volume of 7,345,572. The company has a 50-day moving average of $38.30 and a two-hundred day moving average of $41.36. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66. Medline has a fifty-two week low of $32.81 and a fifty-two week high of $50.88. The company has a market cap of $45.86 billion and a PE ratio of 44.15.

Medline (NASDAQ:MDLN) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. The firm had revenue of $7.68 billion for the quarter. On average, equities research analysts anticipate that Medline will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Medline

A number of institutional investors and hedge funds have recently bought and sold shares of MDLN. Carlyle Group Inc. bought a new position in shares of Medline in the fourth quarter valued at about $9,042,728,000. H&F Corporate Investors X Ltd. bought a new stake in Medline during the 4th quarter worth about $4,179,591,000. Vanguard Group Inc. acquired a new stake in Medline in the 4th quarter valued at about $793,278,000. Morgan Stanley bought a new position in shares of Medline in the fourth quarter worth about $636,807,000. Finally, Capital Research Global Investors bought a new position in shares of Medline in the fourth quarter worth about $620,937,000.

Analysts Set New Price Targets

MDLN has been the topic of a number of analyst reports. Evercore set a $39.00 target price on shares of Medline in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Medline from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Medline in a report on Friday, July 31st. Truist Financial dropped their target price on Medline from $56.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, William Blair restated an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.42.

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.