First American Bank Acquires Shares of 57,459 Medline $MDLN

First American Bank bought a new position in Medline (NASDAQ:MDLN) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 57,459 shares of the company’s stock, valued at approximately $2,557,000.

A number of other large investors have also made changes to their positions in MDLN. SG Americas Securities LLC purchased a new stake in shares of Medline in the 1st quarter valued at approximately $121,000. Rockefeller Capital Management L.P. purchased a new position in Medline during the 4th quarter worth approximately $506,000. Corient Private Wealth LLC acquired a new stake in Medline during the 4th quarter valued at $306,000. Kera Capital Partners Inc. purchased a new stake in shares of Medline in the fourth quarter valued at $3,785,000. Finally, Virtu Financial LLC purchased a new stake in shares of Medline in the fourth quarter valued at $2,243,000.

Medline Stock Up 2.1%

Medline stock opened at $36.05 on Thursday. Medline has a 12 month low of $32.81 and a 12 month high of $50.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. The stock has a market cap of $47.35 billion and a PE ratio of 112.64. The firm’s fifty day moving average is $39.37.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data 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 firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts expect that Medline will post 1.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MDLN. UBS Group lifted their price target on Medline from $48.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Barclays reduced their price objective on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, June 1st. 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 research report on Wednesday, June 3rd. Tigress Financial lifted their target price on Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, BTIG Research reiterated a “buy” rating and issued a $55.00 target price on shares of Medline in a report on Thursday, May 7th. One equities 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, Medline has an average rating of “Moderate Buy” and a consensus price target of $50.54.

Insider Activity

In other news, 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 transaction 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. The trade was a 80.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessi L. Corcoran purchased 5,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the purchase, the insider owned 5,000 shares in the company, valued at $170,750. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.81% of the company’s stock.

Medline Company 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.