Janney Montgomery Scott LLC Invests $7.34 Million in Medline $MDLN

Janney Montgomery Scott LLC acquired a new position in shares of Medline (NASDAQ:MDLN) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 164,957 shares of the company’s stock, valued at approximately $7,341,000.

Other institutional investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new position in Medline in the fourth quarter worth about $25,000. Entrust Financial LLC bought a new stake in shares of Medline in the 4th quarter valued at about $26,000. NBC Securities Inc. bought a new stake in shares of Medline in the 4th quarter valued at about $28,000. Global Retirement Partners LLC purchased a new position in shares of Medline in the 4th quarter worth approximately $31,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Medline in the 4th quarter worth approximately $36,000.

Insider Buying and Selling at Medline

In other news, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the purchase, the insider directly owned 5,000 shares of the company’s stock, valued at approximately $170,750. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of Medline 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 of the company’s stock, valued at approximately $878,766.23. This represents a 80.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

MDLN has been the subject of a number of analyst reports. BTIG Research reissued a “buy” rating and set a $55.00 target price on shares of Medline in a research report on Thursday, May 7th. William Blair reaffirmed an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Tigress Financial upped their price target on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Robert W. Baird decreased their price objective on Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Finally, Sanford C. Bernstein lowered their price objective on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.54.

Medline Price Performance

Shares of Medline stock opened at $43.19 on Friday. The firm has a 50 day moving average of $38.38. The stock has a market cap of $56.74 billion and a price-to-earnings ratio of 134.97. 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 52 week low of $32.81 and a 52 week high of $50.88.

Medline (NASDAQ:MDLN) last released its earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion for the quarter. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, research analysts anticipate that Medline will post 1.49 earnings per share for the current fiscal 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.