Montaka Global Pty Ltd Makes New Investment in Medline $MDLN

Montaka Global Pty Ltd bought a new position in shares of Medline (NASDAQ:MDLN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 90,000 shares of the company’s stock, valued at approximately $3,123,000. Medline comprises approximately 1.2% of Montaka Global Pty Ltd’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mass General Brigham Inc raised its position in shares of Medline by 167.6% during the first quarter. Mass General Brigham Inc now owns 70,357 shares of the company’s stock worth $3,131,000 after acquiring an additional 44,063 shares during the last quarter. Andra AP fonden acquired a new position in shares of Medline in the second quarter worth approximately $3,180,000. Baird Financial Group Inc. lifted its stake in shares of Medline by 1,151.5% in the second quarter. Baird Financial Group Inc. now owns 379,944 shares of the company’s stock worth $14,985,000 after acquiring an additional 349,584 shares during the period. Cetera Investment Advisers boosted its holdings in Medline by 128.4% in the first quarter. Cetera Investment Advisers now owns 52,088 shares of the company’s stock valued at $2,318,000 after acquiring an additional 29,282 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in Medline by 1,263.0% in the second quarter. WINTON GROUP Ltd now owns 367,057 shares of the company’s stock valued at $14,477,000 after acquiring an additional 340,127 shares during the last quarter.

Insider Buying and Selling at Medline

In other news, major shareholder Private Ltd Gic sold 2,570,999 shares of the company’s 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 owned 20,231,483 shares in the company, valued at approximately $715,182,924.05. This 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 accessible through this link. Insiders have sold a total of 7,948,676 shares of company stock worth $281,805,137 in the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Medline Stock Up 0.5%

Medline stock opened at $40.91 on Wednesday. The company has a quick ratio of 2.51, a current ratio of 4.04 and a debt-to-equity ratio of 0.65. Medline has a 12-month low of $31.37 and a 12-month high of $50.88. The firm’s fifty day moving average is $35.01 and its 200 day moving average is $39.45. The company has a market capitalization of $53.78 billion and a PE ratio of 92.98.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, November 4th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.12. The business had revenue of $7.86 billion for the quarter. Medline had a net margin of 1.84% and a return on equity of 8.21%. As a group, sell-side analysts predict that Medline will post 1.50 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MDLN has been the subject of a number of recent analyst reports. TD Cowen decreased their target price on shares of Medline from $53.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Tigress Financial dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of Medline from $53.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. Zacks Research cut shares of Medline from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Finally, Stifel Nicolaus decreased their price objective on shares of Medline from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Twenty-three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.08.

Medline Profile

Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations. The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations. Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.