Medline $MDLN Shares Bought by Mass General Brigham Inc

Mass General Brigham Inc lifted its holdings in shares of Medline (NASDAQ:MDLN) by 167.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 70,357 shares of the company’s stock after acquiring an additional 44,063 shares during the period. Medline makes up about 0.7% of Mass General Brigham Inc’s investment portfolio, making the stock its 6th biggest position. Mass General Brigham Inc’s holdings in Medline were worth $3,131,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MDLN. Sound Income Strategies LLC acquired a new position in Medline in the fourth quarter worth about $25,000. Entrust Financial LLC acquired a new stake in Medline during the fourth quarter valued at 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 bought a new stake in shares of Medline in the 1st quarter valued at approximately $30,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Medline in the 4th quarter worth approximately $31,000.

Insider Transactions at Medline

In related news, insider Jessi L. Corcoran purchased 5,000 shares of Medline stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the transaction, the insider directly owned 5,000 shares in the company, valued at approximately $170,750. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 23,899 shares in the company, valued at approximately $878,766.23. This represents a 80.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.81% of the company’s stock.

Medline Stock Down 4.7%

NASDAQ MDLN opened at $38.66 on Wednesday. The stock’s 50 day simple moving average is $37.86 and its 200 day simple moving average is $42.11. Medline has a one year low of $32.81 and a one year high of $50.88. The firm has a market cap of $50.79 billion and a PE ratio of 120.81. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Medline will post 1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDLN has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft set a $42.00 target price on Medline in a research report on Thursday, May 7th. Sanford C. Bernstein dropped their price objective on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. William Blair reissued an “outperform” rating on shares of Medline in a report on Thursday, June 4th. BNP Paribas Exane reduced their target price on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, Citigroup lowered their target price on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Medline presently has a consensus rating of “Moderate Buy” and an average price target of $50.54.

About Medline

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.