Medline (NASDAQ:MDLN) Major Shareholder Sells $90,884,814.65 in Stock

Medline (NASDAQ:MDLN) major shareholder Private Ltd Gic sold 2,570,999 shares of Medline stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $35.35, for a total transaction of $90,884,814.65. Following the transaction, the insider directly owned 20,231,483 shares of the company’s stock, valued at approximately $715,182,924.05. This trade represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Private Ltd Gic also recently made the following trade(s):

• On Tuesday, October 6th, Private Ltd Gic sold 7,183,013 shares of Medline stock. The shares were sold at an average price of $35.05, for a total value of $251,764,605.65.
• On Tuesday, October 6th, Private Ltd Gic sold 2,088,987 shares of Medline stock. The shares were sold at an average price of $35.05, for a total transaction of $73,218,994.35.
• On Monday, October 5th, Private Ltd Gic sold 1,688,690 shares of Medline stock. The stock was sold at an average price of $35.78, for a total value of $60,421,328.20.
• On Friday, October 2nd, Private Ltd Gic sold 7,146,941 shares of Medline stock. The stock was sold at an average price of $34.33, for a total value of $245,354,484.53.
• On Friday, August 14th, Private Ltd Gic sold 100,000 shares of Medline stock. The shares were sold at an average price of $35.80, for a total transaction of $3,580,000.00.
• On Thursday, August 13th, Private Ltd Gic sold 1,500,000 shares of Medline stock. The stock was sold at an average price of $35.80, for a total value of $53,700,000.00.
• On Friday, August 7th, Private Ltd Gic sold 590,284 shares of Medline stock. The stock was sold at an average price of $35.58, for a total transaction of $21,002,304.72.
• On Thursday, August 6th, Private Ltd Gic sold 271,994 shares of Medline stock. The stock was sold at an average price of $35.33, for a total value of $9,609,548.02.
• On Wednesday, August 5th, Private Ltd Gic sold 1,976,618 shares of Medline stock. The stock was sold at an average price of $35.60, for a total value of $70,367,600.80.

Medline Stock Performance

Medline stock opened at $36.26 on Friday. The company’s 50-day moving average price is $34.89 and its 200-day moving average price is $38.43. 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 twelve month low of $31.49 and a twelve month high of $50.88. The company has a market cap of $47.67 billion and a PE ratio of 45.90.

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

Institutional Trading of Medline

Large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in Medline by 68.3% during the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock valued at $25,000 after acquiring an additional 254 shares in the last quarter. NewEdge Advisors LLC increased its stake in Medline by 100.0% in the second quarter. NewEdge Advisors LLC now owns 950 shares of the company’s stock worth $37,000 after purchasing an additional 475 shares during the period. Allworth Financial LP grew its stake in Medline by 86.2% in the 2nd quarter. Allworth Financial LP now owns 1,052 shares of the company’s stock worth $41,000 after acquiring an additional 487 shares in the last quarter. North Star Investment Management Corp. increased its holdings in Medline by 60.2% during the 1st quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock worth $61,000 after purchasing an additional 512 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Medline in the first quarter worth about $30,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MDLN. Citigroup upgraded shares of Medline to a “strong-buy” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. decreased their price target on shares of Medline from $53.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft set a $37.00 price objective on Medline in a report on Thursday, August 6th. Stifel Nicolaus reduced their price target on shares of Medline from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, BTIG Research reissued a “buy” rating and set a $55.00 price target on shares of Medline in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.81.

Medline Company Profile

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies, clinical products and equipment to hospitals, health systems, physician practices, long-term care facilities, surgery centers and other healthcare providers. Its offerings are designed to support patient care, surgical procedures, infection prevention and healthcare facility operations.

The company’s product portfolio includes surgical instruments and supplies, exam gloves and protective apparel, wound care products, patient-care items, respiratory and monitoring equipment, laboratory supplies, durable medical equipment and products for environmental and facility management.