Medline $MDLN Position Lifted by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its position in Medline (NASDAQ:MDLN) by 14.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,856,810 shares of the company’s stock after purchasing an additional 229,817 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.14% of Medline worth $64,431,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG boosted its position in shares of Medline by 2.0% during the third quarter. Bank Pictet & Cie Europe AG now owns 404,883 shares of the company’s stock worth $14,049,000 after purchasing an additional 7,850 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in shares of Medline in the 3rd quarter valued at $572,000. Banque Pictet & Cie SA grew its holdings in shares of Medline by 2.0% in the 3rd quarter. Banque Pictet & Cie SA now owns 7,455,089 shares of the company’s stock valued at $258,692,000 after buying an additional 142,939 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Medline in the 3rd quarter valued at $6,834,000. Finally, Douglas Lane & Associates LLC increased its position in shares of Medline by 912.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 554,224 shares of the company’s stock valued at $19,232,000 after buying an additional 499,459 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MDLN. Evercore set a $39.00 price objective on Medline in a research note on Thursday, August 6th. Stifel Nicolaus decreased their target price on Medline from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Robert W. Baird set a $42.00 target price on Medline in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $37.00 price target on Medline in a report on Thursday, August 6th. Finally, Royal Bank Of Canada cut their price objective on Medline from $53.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.69.

Insiders Place Their Bets

In other Medline news, major shareholder Private Ltd Gic sold 2,570,999 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $35.35, for a total transaction of $90,884,814.65. Following the completion of the transaction, the insider owned 20,231,483 shares of the company’s stock, valued at $715,182,924.05. This represents a 11.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 10,787,572 shares of company stock worth $382,784,591. Corporate insiders own 0.81% of the company’s stock.

Medline Price Performance

Shares of Medline stock opened at $34.88 on Friday. The stock’s 50-day moving average is $34.73 and its 200-day moving average is $37.92. Medline has a one year low of $31.49 and a one year 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.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data 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 firm had revenue of $7.68 billion for the quarter. Research analysts anticipate that Medline will post 1.51 earnings per share for the current year.

Medline Company Profile

Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.

Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.