WCM Investment Management LLC Sells 105,852 Shares of Medline $MDLN

WCM Investment Management LLC lowered its holdings in Medline (NASDAQ:MDLN) by 1.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,218,731 shares of the company’s stock after selling 105,852 shares during the quarter. WCM Investment Management LLC owned approximately 0.55% of Medline worth $307,662,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. North Star Investment Management Corp. raised its holdings in shares of Medline by 60.2% during the first quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock valued at $61,000 after acquiring an additional 512 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Medline during the 4th quarter valued at approximately $25,000. Entrust Financial LLC purchased a new position in shares of Medline during the 4th quarter worth approximately $26,000. NBC Securities Inc. purchased a new position in shares of Medline during the 4th quarter worth approximately $28,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Medline in the 1st quarter worth approximately $30,000.

Medline Stock Performance

Medline stock opened at $39.79 on Monday. Medline has a twelve month low of $32.81 and a twelve month 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 company has a market capitalization of $52.27 billion and a P/E ratio of 124.34. The stock’s 50 day moving average is $37.79 and its 200 day moving average is $42.04.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a research report on Thursday, May 7th. Barclays lowered their price objective on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, June 1st. 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. Citigroup reduced their target price on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Robert W. Baird decreased their price target on shares of Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.54.

Insider Buying and Selling at Medline

In other news, insider Jessi L. Corcoran purchased 5,000 shares of the company’s stock in a transaction that occurred 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 purchase, the insider directly owned 5,000 shares in the company, valued at approximately $170,750. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $3,677,000.00. Following the sale, the insider directly owned 23,899 shares in the company, valued at $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.81% of the stock is owned by company insiders.

About Medline

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.