CI Investments Inc. Invests $4.06 Million in Medline $MDLN

CI Investments Inc. bought a new stake in Medline (NASDAQ:MDLN) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 91,330 shares of the company’s stock, valued at approximately $4,064,000.

A number of other hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC bought a new stake in Medline in the fourth quarter valued at about $25,000. Entrust Financial LLC bought a new position in Medline during the 4th quarter worth approximately $26,000. NBC Securities Inc. bought a new stake in shares of Medline in the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Medline during the 1st quarter valued at approximately $30,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Medline during the 4th quarter valued at approximately $31,000.

Analyst Upgrades and Downgrades

MDLN has been the subject of a number of research reports. Citigroup decreased their price objective on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, May 7th. BNP Paribas Exane dropped their target price on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Weiss Ratings downgraded shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Tigress Financial lifted their price target on shares of Medline from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.54.

Insider Buying and Selling at Medline

In other news, insider Douglas P. Golwas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the transaction, the insider directly owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessi L. Corcoran acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the purchase, the insider owned 5,000 shares of the company’s stock, valued at approximately $170,750. This represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.81% of the company’s stock.

Medline Stock Performance

Shares of NASDAQ MDLN opened at $37.63 on Friday. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. The company has a market cap of $49.43 billion and a PE ratio of 117.59. The stock has a 50 day simple moving average of $37.74 and a 200-day simple moving average of $41.95. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65.

Medline (NASDAQ:MDLN) last posted its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The business’s revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts forecast that Medline will post 1.49 EPS for the current year.

Medline Company 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.