Verition Fund Management LLC Makes New Investment in Medline $MDLN

Verition Fund Management LLC acquired a new stake in Medline (NASDAQ:MDLN) during the 4th quarter, Holdings Channel reports. The firm acquired 750,000 shares of the company’s stock, valued at approximately $31,500,000.

Other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC bought a new stake in Medline during the 4th quarter valued at approximately $25,000. Entrust Financial LLC bought a new stake in shares of Medline during the fourth quarter valued at approximately $26,000. NBC Securities Inc. bought a new position in shares of Medline during the fourth quarter worth $28,000. Global Retirement Partners LLC bought a new position in shares of Medline during the fourth quarter worth $31,000. Finally, North Star Investment Management Corp. purchased a new position in Medline during the fourth quarter valued at $36,000.

Insider Buying and Selling at Medline

In other Medline news, insider Jessi L. Corcoran bought 5,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the purchase, the insider owned 5,000 shares in the company, valued at $170,750. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDLN. BNP Paribas Exane decreased their price target on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Barclays cut their price target on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, June 1st. Leerink Partners set a $56.00 target price on Medline in a research report on Wednesday, February 25th. Robert W. Baird cut their target price on shares of Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Finally, Tigress Financial increased their price objective on shares of Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.54.

Medline Stock Performance

Shares of Medline stock opened at $36.61 on Monday. The stock has a market cap of $48.09 billion and a PE ratio of 114.41. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average of $40.76. Medline has a one year low of $32.81 and a one year high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion for the quarter. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts predict that Medline will post 1.51 earnings per share for the current fiscal year.

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.