Medline Sees Unusually High Options Volume (NASDAQ:MDLN)

Medline (NASDAQ:MDLN) was the target of unusually large options trading activity on Monday. Stock investors bought 20,383 put options on the stock. This represents an increase of 975% compared to the average daily volume of 1,896 put options.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MDLN shares. Tigress Financial boosted their target price on shares of Medline from $60.00 to $62.00 and gave the company 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. Weiss Ratings lowered shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Sanford C. Bernstein cut their price objective on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.54.

Medline Stock Performance

Shares of MDLN traded up $0.79 during trading hours on Monday, hitting $39.66. The company had a trading volume of 4,509,229 shares, compared to its average volume of 7,347,538. The stock has a market capitalization of $52.10 billion and a PE ratio of 124.11. The company’s fifty day moving average is $38.99. Medline has a 52-week low of $32.81 and a 52-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.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion for the quarter. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts anticipate that Medline will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Medline

In other news, insider Jessi L. Corcoran acquired 5,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $34.15 per share, with a total value of $170,750.00. Following the transaction, the insider owned 5,000 shares in the company, valued at $170,750. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 23,899 shares of the company’s stock, 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. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Medline

Institutional investors have recently made changes to their positions in the company. Carlyle Group Inc. bought a new position in shares of Medline during the fourth quarter valued at $9,042,728,000. H&F Corporate Investors X Ltd. bought a new stake in shares of Medline in the fourth quarter worth approximately $4,179,591,000. Vanguard Group Inc. purchased a new position in shares of Medline during the fourth quarter valued at approximately $793,278,000. Morgan Stanley bought a new position in Medline during the fourth quarter valued at approximately $636,807,000. Finally, Capital Research Global Investors bought a new position in Medline during the fourth quarter valued at approximately $620,937,000.

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.