54,675 Medline $MDLN Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its position in shares of Medline (NASDAQ:MDLN) by 1,022.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,023 shares of the company’s stock after purchasing an additional 54,675 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Medline were worth $2,083,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Mass General Brigham Inc grew its holdings in Medline by 167.6% in the first quarter. Mass General Brigham Inc now owns 70,357 shares of the company’s stock valued at $3,131,000 after purchasing an additional 44,063 shares during the last quarter. Andra AP fonden purchased a new position in shares of Medline in the second quarter valued at $3,180,000. Cetera Investment Advisers increased its position in shares of Medline by 128.4% in the first quarter. Cetera Investment Advisers now owns 52,088 shares of the company’s stock valued at $2,318,000 after buying an additional 29,282 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Medline by 1,151.5% during the 2nd quarter. Baird Financial Group Inc. now owns 379,944 shares of the company’s stock worth $14,985,000 after buying an additional 349,584 shares during the last quarter. Finally, WINTON GROUP Ltd raised its stake in shares of Medline by 1,263.0% during the 2nd quarter. WINTON GROUP Ltd now owns 367,057 shares of the company’s stock worth $14,477,000 after buying an additional 340,127 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Robert W. Baird set a $42.00 target price on shares of Medline in a report on Thursday, August 6th. JPMorgan Chase & Co. cut their target price on shares of Medline from $53.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, August 12th. Bank of America reduced their price target on shares of Medline from $53.00 to $46.00 in a report on Thursday, August 6th. Finally, Barclays lowered their price target on shares of Medline from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.54.

Insiders Place Their Bets

In other Medline news, major shareholder Private Ltd Gic sold 2,570,999 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $35.35, for a total value of $90,884,814.65. Following the transaction, the insider directly owned 20,231,483 shares in the company, valued at approximately $715,182,924.05. This represents a 11.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 10,787,572 shares of company stock valued at $382,784,591. Insiders own 0.81% of the company’s stock.

Medline Stock Performance

Medline stock opened at $32.12 on Friday. Medline has a fifty-two week low of $31.37 and a fifty-two week high of $50.88. The company has a market capitalization of $42.23 billion and a price-to-earnings ratio of 40.66. The stock has a fifty day moving average of $34.51 and a two-hundred day moving average of $39.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. The company had revenue of $7.68 billion for the quarter. On average, analysts anticipate that Medline will post 1.49 EPS for the current fiscal year.

Medline Company Profile

Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.

Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.