CTC Alternative Strategies Ltd. Takes Position in Medline $MDLN

CTC Alternative Strategies Ltd. bought a new position in shares of Medline (NASDAQ:MDLN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,541 shares of the company’s stock, valued at approximately $1,048,000. Medline comprises approximately 2.4% of CTC Alternative Strategies Ltd.’s investment portfolio, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDLN. Sound Income Strategies LLC acquired a new stake in Medline during the 4th quarter worth about $25,000. Entrust Financial LLC acquired a new position in shares of Medline in the 4th quarter valued at about $26,000. NBC Securities Inc. acquired a new position in shares of Medline in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Medline in the first quarter worth about $30,000. Finally, Global Retirement Partners LLC acquired a new position in Medline in the fourth quarter valued at approximately $31,000.

Medline Stock Up 0.4%

Medline stock opened at $39.28 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. The stock has a market capitalization of $51.60 billion and a PE ratio of 122.75. The business has a 50 day simple moving average of $38.09 and a 200-day simple moving average of $41.91. Medline has a 12 month low of $32.81 and a 12 month high of $50.88.

Medline (NASDAQ:MDLN) last announced its earnings results 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 business 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. On average, analysts anticipate that Medline will post 1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jessi L. Corcoran acquired 5,000 shares of Medline stock in a transaction on Friday, June 5th. The stock was bought at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the transaction, the insider owned 5,000 shares of the company’s stock, valued at approximately $170,750. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas P. Golwas sold 100,000 shares of Medline 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 completion of the sale, the insider owned 23,899 shares in the company, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDLN. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Medline in a research note on Friday. William Blair reiterated an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft set a $42.00 price target on shares of Medline in a research report on Thursday, May 7th. Barclays cut their price objective on shares of Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, June 1st. Finally, BNP Paribas Exane decreased their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. One equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.54.

Medline 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.