Public Employees Retirement System of Ohio Purchases Shares of 127,883 Medline $MDLN

Public Employees Retirement System of Ohio acquired a new position in shares of Medline (NASDAQ:MDLN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 127,883 shares of the company’s stock, valued at approximately $5,044,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mass General Brigham Inc raised its stake in Medline by 167.6% during the 1st quarter. Mass General Brigham Inc now owns 70,357 shares of the company’s stock valued at $3,131,000 after acquiring an additional 44,063 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Medline in the first quarter worth $1,177,000. Cetera Investment Advisers increased its holdings in shares of Medline by 128.4% during the first quarter. Cetera Investment Advisers now owns 52,088 shares of the company’s stock valued at $2,318,000 after purchasing an additional 29,282 shares during the period. UBS Group AG acquired a new position in shares of Medline during the fourth quarter valued at $54,707,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Medline by 138.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 157,200 shares of the company’s stock valued at $6,995,000 after purchasing an additional 91,300 shares in the last quarter.

Insider Activity

In related news, major shareholder Private Ltd Gic sold 1,976,618 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $35.60, for a total transaction of $70,367,600.80. Following the transaction, the insider directly owned 25,264,760 shares of the company’s stock, valued at approximately $899,425,456. The trade was a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider directly owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This represents a 80.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 4,538,896 shares of company stock worth $161,936,454. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Truist Financial decreased their target price on shares of Medline from $56.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. BNP Paribas Exane reduced their price target on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. BMO Capital Markets reiterated an “outperform” rating and issued a $47.00 price objective on shares of Medline in a report on Thursday, August 6th. Evercore set a $39.00 price objective on shares of Medline in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $42.00 target price on Medline in a report on Thursday, August 6th. Two research 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 given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.42.

Medline Trading Up 3.4%

Medline stock opened at $36.30 on Thursday. The company has a 50 day moving average price of $37.94 and a 200 day moving average price of $40.39. Medline has a 52 week low of $32.49 and a 52 week high of $50.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33. The firm has a market capitalization of $47.72 billion and a price-to-earnings ratio of 45.95.

Medline (NASDAQ:MDLN) last announced its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.18. The firm had revenue of $7.68 billion for the quarter. Research analysts forecast that Medline will post 1.51 EPS for the current 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.