Public Employees Retirement System of Ohio Takes $4.20 Million Position in Medline $MDLN

Public Employees Retirement System of Ohio bought a new position in shares of Medline (NASDAQ:MDLN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 94,336 shares of the company’s stock, valued at approximately $4,198,000.

Several other large investors have also modified their holdings of the business. Mass General Brigham Inc purchased a new stake in Medline in the 4th quarter valued at about $1,104,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Medline during the first quarter worth about $1,177,000. Baillie Gifford & Co. purchased a new position in Medline during the fourth quarter worth about $437,236,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Medline during the fourth quarter valued at about $429,544,000. Finally, UBS Group AG acquired a new stake in shares of Medline during the fourth quarter valued at about $54,707,000.

Medline Price Performance

Shares of MDLN opened at $40.08 on Thursday. The company has a market cap of $52.65 billion and a P/E ratio of 125.25. Medline has a fifty-two week low of $32.81 and a fifty-two week high of $50.88. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. The firm’s 50 day moving average price is $38.00 and its 200 day moving average price is $41.94.

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

Insiders Place Their Bets

In related news, insider Jessi L. Corcoran purchased 5,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were bought at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the acquisition, the insider directly owned 5,000 shares in the company, valued at $170,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 23,899 shares in the company, valued at $878,766.23. This represents a 80.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BNP Paribas Exane decreased their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Citigroup dropped their target price on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, May 7th. BTIG Research restated a “buy” rating and set a $55.00 price target on shares of Medline in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a research report on Thursday, May 7th. Finally, Robert W. Baird cut their price objective on Medline from $57.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.54.

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.