Capital World Investors Makes New $142.45 Million Investment in Medline $MDLN

Capital World Investors acquired a new position in shares of Medline (NASDAQ:MDLN) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,391,577 shares of the company’s stock, valued at approximately $142,446,000.

Several other institutional investors and hedge funds have also made changes to their positions in MDLN. Sound Income Strategies LLC purchased a new position in shares of Medline in the fourth quarter valued at $25,000. Entrust Financial LLC purchased a new position in shares of Medline in the fourth quarter valued at $26,000. NBC Securities Inc. purchased a new position in shares of Medline in the fourth quarter valued at $28,000. Global Retirement Partners LLC purchased a new position in shares of Medline in the fourth quarter valued at $31,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Medline in the fourth quarter valued at $36,000.

Analyst Upgrades and Downgrades

MDLN has been the subject of several analyst reports. Wells Fargo & Company upped their target price on shares of Medline from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Royal Bank Of Canada upped their target price on shares of Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Robert W. Baird decreased their target price on shares of Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Barclays decreased their target price on shares of Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, June 1st. Finally, Evercore restated an “outperform” rating and issued a $55.00 target price on shares of Medline in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Medline Stock Up 0.6%

MDLN opened at $33.80 on Tuesday. The company has a fifty day moving average of $41.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. Medline has a 12-month low of $32.81 and a 12-month high of $50.88.

Medline (NASDAQ:MDLN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion during the quarter. The business’s revenue was up 10.7% compared to the same quarter last year. As a group, research analysts predict that Medline will post 1.51 EPS for the current 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.