Washington Trust Advisors Inc. Makes New $5.37 Million Investment in Medline $MDLN

Washington Trust Advisors Inc. bought a new position in shares of Medline (NASDAQ:MDLN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 136,179 shares of the company’s stock, valued at approximately $5,371,000.

A number of other institutional investors have also recently modified their holdings of MDLN. Carlyle Group Inc. acquired a new position in Medline in the 4th quarter worth about $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new stake in Medline in the fourth quarter valued at approximately $4,179,591,000. Morgan Stanley purchased a new stake in shares of Medline in the fourth quarter valued at approximately $636,807,000. Capital Research Global Investors purchased a new stake in shares of Medline in the fourth quarter valued at approximately $620,937,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Medline during the 4th quarter worth approximately $443,712,000.

Insider Activity at Medline

In other news, major shareholder Private Ltd Gic sold 1,976,618 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $899,425,456. The trade was a 7.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas Golwas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were 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 owned 23,899 shares of the company’s stock, valued at $878,766.23. This trade 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 90 days, insiders have sold 4,538,896 shares of company stock worth $161,936,454. Insiders own 0.81% of the company’s stock.

Medline Price Performance

Shares of NASDAQ MDLN opened at $36.59 on Monday. The firm has a 50-day simple moving average of $37.87 and a 200-day simple moving average of $40.28. The stock has a market capitalization of $48.11 billion and a price-to-earnings ratio of 46.32. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66. Medline has a 52 week low of $32.49 and a 52 week high of $50.88.

Medline (NASDAQ:MDLN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. The business had revenue of $7.68 billion for the quarter. On average, equities analysts predict that Medline will post 1.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $37.00 price target on shares of Medline in a research note on Thursday, August 6th. Truist Financial reduced their price objective 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. Tigress Financial dropped their target price on shares of Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. 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 report on Thursday, May 14th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Medline has an average rating of “Moderate Buy” and an average target price of $47.42.

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.