Charles Schwab Investment Management Inc. Invests $32.76 Million in Medline $MDLN

Charles Schwab Investment Management Inc. bought a new position in shares of Medline (NASDAQ:MDLN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 780,041 shares of the company’s stock, valued at approximately $32,762,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. purchased a new position in shares of Medline during the fourth quarter worth approximately $793,278,000. Capital Research Global Investors purchased a new position in shares of Medline during the fourth quarter worth approximately $620,937,000. Baillie Gifford & Co. purchased a new position in Medline during the fourth quarter valued at approximately $437,236,000. Massachusetts Financial Services Co. MA purchased a new position in Medline during the fourth quarter valued at approximately $429,544,000. Finally, Norges Bank purchased a new position in Medline during the fourth quarter valued at approximately $210,000,000.

Medline Stock Performance

NASDAQ MDLN opened at $36.19 on Friday. The business has a fifty day moving average price of $43.47. Medline has a 12-month low of $34.89 and a 12-month high of $50.88.

Medline (NASDAQ:MDLN) last issued 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 business had revenue of $7.35 billion for the quarter. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts anticipate that Medline will post 1.5 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on shares of Medline in a report on Thursday, May 7th. Morgan Stanley lifted their price objective on shares of Medline from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Wells Fargo & Company lifted their price objective on shares of Medline from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Stifel Nicolaus set a $55.00 price objective on shares of Medline in a report on Wednesday, February 25th. Finally, BNP Paribas Exane cut their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Medline has an average rating of “Moderate Buy” and an average price target of $50.85.

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.