WINTON GROUP Ltd Boosts Stock Position in Medline $MDLN

WINTON GROUP Ltd increased its position in Medline (NASDAQ:MDLN) by 1,263.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,057 shares of the company’s stock after acquiring an additional 340,127 shares during the quarter. WINTON GROUP Ltd’s holdings in Medline were worth $14,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mass General Brigham Inc lifted its stake in shares of Medline by 167.6% during the 1st quarter. Mass General Brigham Inc now owns 70,357 shares of the company’s stock valued at $3,131,000 after buying an additional 44,063 shares in the last quarter. Cetera Investment Advisers raised its holdings in Medline by 128.4% during the first quarter. Cetera Investment Advisers now owns 52,088 shares of the company’s stock valued at $2,318,000 after acquiring an additional 29,282 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in Medline during the first quarter valued at about $1,177,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Medline by 138.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 157,200 shares of the company’s stock worth $6,995,000 after acquiring an additional 91,300 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Medline in the 2nd quarter worth approximately $40,430,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MDLN shares. Weiss Ratings upgraded Medline from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lowered their target price on Medline from $53.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, August 12th. Citigroup raised shares of Medline to a “strong-buy” rating in a report on Wednesday, August 5th. Tigress Financial reduced their price target on shares of Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $47.00 price target on shares of Medline in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Medline has an average rating of “Moderate Buy” and a consensus target price of $47.42.

Insider Buying and Selling at Medline

In other news, major shareholder Private Ltd Gic sold 1,976,618 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $35.60, for a total transaction of $70,367,600.80. Following the completion of the sale, the insider directly owned 25,264,760 shares of the company’s stock, valued at approximately $899,425,456. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 23,899 shares in the company, valued at approximately $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,538,896 shares of company stock worth $161,936,454 in the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Medline Price Performance

Medline stock opened at $34.05 on Thursday. The firm has a 50-day moving average price of $37.57 and a 200-day moving average price of $40.02. The firm has a market capitalization of $44.77 billion and a PE ratio of 43.10. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. Medline has a 12-month low of $32.49 and a 12-month high of $50.88.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.18. The firm had revenue of $7.68 billion during the quarter. As a group, equities research analysts forecast that Medline will post 1.51 EPS for the current year.

Medline Profile

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies and clinical products. Its offerings include surgical and exam gloves, personal protective equipment, operating-room supplies, wound-care products, patient-care items, laboratory products, apparel, and durable medical equipment.

The company serves hospitals, health systems, ambulatory surgery centers, physicians’ offices, long-term-care facilities, home-health providers, and other healthcare organizations.