Medline $MDLN Stock: Mawer Investment Management Ltd. Increases Position

Mawer Investment Management Ltd. raised its position in Medline (NASDAQ:MDLN) by 115.1% in the 3rd quarter, Holdings Channel reports. The fund owned 1,808,153 shares of the company’s stock after acquiring an additional 967,587 shares during the period. Mawer Investment Management Ltd.’s holdings in Medline were worth $62,743,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Aberdeen Group plc purchased a new stake in shares of Medline in the third quarter valued at about $1,270,000. Russell Investments Group Ltd. raised its holdings in Medline by 4.1% during the third quarter. Russell Investments Group Ltd. now owns 310,908 shares of the company’s stock worth $10,789,000 after purchasing an additional 12,124 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in Medline by 17.4% in the third quarter. Maryland State Retirement & Pension System now owns 27,149 shares of the company’s stock valued at $942,000 after purchasing an additional 4,029 shares during the period. Jefferies Financial Group Inc. lifted its position in Medline by 330.3% in the third quarter. Jefferies Financial Group Inc. now owns 100,000 shares of the company’s stock valued at $3,470,000 after purchasing an additional 76,761 shares during the period. Finally, MFF Capital Investments Ltd acquired a new stake in Medline in the third quarter valued at about $3,470,000.

Insiders Place Their Bets

In other Medline news, major shareholder Private Ltd Gic sold 2,088,987 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $35.05, for a total value of $73,218,994.35. Following the sale, the insider owned 16,453,806 shares of the company’s stock, valued at approximately $576,705,900.30. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 6,348,676 shares of company stock valued at $224,525,137 over the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Medline Price Performance

Shares of MDLN traded down $0.51 on Friday, reaching $39.47. The stock had a trading volume of 8,433,866 shares, compared to its average volume of 10,899,395. The firm has a market capitalization of $51.89 billion and a PE ratio of 89.71. The company has a quick ratio of 2.51, a current ratio of 4.04 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $35.28 and a 200 day moving average of $39.37. Medline has a twelve month low of $31.37 and a twelve month high of $50.88.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.12. The firm had revenue of $7.86 billion during the quarter. Medline had a return on equity of 8.21% and a net margin of 1.84%. Sell-side analysts expect that Medline will post 1.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MDLN shares. UBS Group lifted their price objective on Medline from $43.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, November 5th. BTIG Research reissued a “buy” rating and set a $55.00 target price on shares of Medline in a research note on Thursday, November 5th. Mizuho cut their target price on Medline from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, October 22nd. Deutsche Bank set a $37.00 price target on Medline and gave the company a “hold” rating in a report on Thursday, August 6th. Finally, TD Cowen decreased their price target on Medline from $53.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Twenty-three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.08.

Medline Company Profile

Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations. The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations. Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.