Sumitomo Mitsui Trust Group Inc. Makes New Investment in Medline $MDLN

Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Medline (NASDAQ:MDLN) in the 1st quarter, Holdings Channel reports. The fund bought 26,448 shares of the company’s stock, valued at approximately $1,177,000.

Several other large investors have also recently bought and sold shares of the stock. WPG Advisers LLC boosted its holdings in shares of Medline by 76.3% during the first quarter. WPG Advisers LLC now owns 1,585 shares of the company’s stock worth $71,000 after acquiring an additional 686 shares during the period. Whittier Trust Co. bought a new position in shares of Medline during the first quarter worth approximately $49,000. Stephens Inc. AR acquired a new stake in Medline during the 1st quarter worth approximately $3,835,000. Praxis Investment Management Inc. bought a new stake in Medline in the 1st quarter valued at $361,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in Medline by 36.8% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,875 shares of the company’s stock valued at $973,000 after purchasing an additional 5,889 shares during the period.

Medline Price Performance

Shares of NASDAQ:MDLN opened at $39.44 on Thursday. The firm has a 50 day moving average of $37.80 and a 200-day moving average of $42.08. Medline has a 12 month low of $32.81 and a 12 month high of $50.88. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $51.81 billion and a PE ratio of 123.25.

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, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion for the quarter. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Medline will post 1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MDLN shares. Tigress Financial lifted their target price on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. William Blair reiterated an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Barclays cut their price objective on shares of Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft set a $42.00 target price on shares of Medline in a report on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Insider Buying and Selling at Medline

In other Medline news, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $34.15 per share, with a total value of $170,750.00. Following the acquisition, the insider owned 5,000 shares in the company, valued at $170,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is owned by corporate insiders.

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.