California State Teachers Retirement System Purchases New Position in Medline $MDLN

California State Teachers Retirement System bought a new position in shares of Medline (NASDAQ:MDLN) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 17,769 shares of the company’s stock, valued at approximately $791,000.

Several other large investors also recently made changes to their positions in the business. Carlyle Group Inc. bought a new position in shares of Medline in the fourth quarter worth about $9,042,728,000. H&F Corporate Investors X Ltd. bought a new position in Medline in the 4th quarter worth approximately $4,179,591,000. Vanguard Group Inc. bought a new position in Medline in the 4th quarter valued at $793,278,000. Morgan Stanley acquired a new stake in shares of Medline in the 4th quarter valued at $636,807,000. Finally, Capital Research Global Investors bought a new stake in shares of Medline during the fourth quarter worth $620,937,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MDLN. Citigroup raised Medline to a “strong-buy” rating in a report on Wednesday, August 5th. Royal Bank Of Canada lowered their price target on Medline from $53.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. 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 report on Thursday, August 6th. William Blair reissued an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Finally, Truist Financial cut their price objective on Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Two investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.42.

Insider Activity at Medline

In other Medline news, insider Jessi L. Corcoran acquired 5,000 shares of Medline stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the purchase, the insider directly owned 5,000 shares in the company, valued at approximately $170,750. This represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Private Ltd Gic sold 1,976,618 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.60, for a total value of $70,367,600.80. Following the completion of the transaction, the insider owned 25,264,760 shares of the company’s stock, valued at $899,425,456. The trade was a 7.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,938,896 shares of company stock valued at $104,656,454. Corporate insiders own 0.81% of the company’s stock.

Medline Trading Up 0.4%

NASDAQ MDLN opened at $35.74 on Friday. Medline has a 52 week low of $32.81 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 stock’s 50 day moving average price is $38.30 and its two-hundred day moving average price is $41.39. The stock has a market capitalization of $46.99 billion and a price-to-earnings ratio of 45.24.

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 for the quarter. As a group, analysts anticipate that Medline will post 1.51 earnings per share for the current fiscal year.

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.