Medline $MDLN Stock Holdings Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in Medline (NASDAQ:MDLN) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 795,551 shares of the company’s stock after selling 22,171 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Medline were worth $27,606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MDLN. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Medline by 233.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock valued at $222,500,000 after purchasing an additional 3,500,000 shares during the period. Bessemer Group Inc. increased its stake in Medline by 39,404.0% during the 1st quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock worth $155,929,000 after buying an additional 3,495,136 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Medline during the 1st quarter worth approximately $59,733,000. Bank of New York Mellon Corp purchased a new position in Medline in the 2nd quarter valued at approximately $40,430,000. Finally, Janus Henderson Group PLC boosted its position in Medline by 8.4% in the 1st quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock valued at $506,546,000 after buying an additional 887,240 shares during the period.

Analyst Ratings Changes

Several research firms have commented on MDLN. William Blair restated an “outperform” rating on shares of Medline in a research note on Wednesday, September 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $47.00 price objective on shares of Medline in a research note on Thursday, August 6th. Wells Fargo & Company decreased their target price on Medline from $45.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Citigroup boosted their target price on Medline from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, UBS Group upped their price target on Medline from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday. Twenty-three analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.08.

Medline Stock Down 1.5%

Shares of Medline stock opened at $39.76 on Friday. Medline has a 52-week low of $31.37 and a 52-week high of $50.88. The company has a 50 day moving average of $34.68 and a 200 day moving average of $39.51. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $52.27 billion and a P/E ratio of 33.35.

Medline (NASDAQ:MDLN) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.32 by $0.12. Medline had a net margin of 1.84% and a return on equity of 8.22%. The company had revenue of $7.86 billion during the quarter. As a group, research analysts forecast that Medline will post 1.49 EPS for the current fiscal year.

Medline News Roundup

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline reported third-quarter EPS of $0.44, above the $0.32 consensus, on $7.86 billion in revenue. Reports also said the company raised its full-year growth outlook. Medline Q3 results
• Positive Sentiment: Several analysts raised price targets and maintained bullish ratings: UBS to $49, Citi to $47, and Leerink Partners to $46; BTIG reaffirmed Buy with a $55 target. These actions signal continued confidence in the stock’s potential. Read More., Read More., Read More., Read More.
• Positive Sentiment: Medline plans to raise prices in 2027 to help offset inflation, and reports cited a $1 billion share-buyback plan—both potential supports for financial performance and shareholder returns. Pricing and Q3 results
• Negative Sentiment: Despite the EPS beat, one report said quarterly profit fell, while Medline reaffirmed its full-year adjusted EBITDA outlook rather than raising it. That may have tempered the positive reaction to the results. Q3 profit and outlook report
• Negative Sentiment: A law firm announced an investigation into potential securities-fraud claims related to alleged product-quality issues. This is an allegation and investigation announcement, not a finding of wrongdoing, but it could add uncertainty for investors. Investigation announcement

Insider Activity

In related news, major shareholder Private Ltd Gic sold 2,088,987 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $35.05, for a total transaction of $73,218,994.35. Following the completion of the transaction, the insider owned 16,453,806 shares in the company, valued at approximately $576,705,900.30. The trade was a 11.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 7,948,676 shares of company stock worth $281,805,137. 0.81% of the stock is currently owned by insiders.

About Medline

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.