Medline (NASDAQ:MDLN) Major Shareholder Private Ltd Gic Sells 590,284 Shares

Medline (NASDAQ:MDLN) major shareholder Private Ltd Gic sold 590,284 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $35.58, for a total transaction of $21,002,304.72. Following the completion of the sale, the insider directly owned 24,402,482 shares of the company’s stock, valued at $868,240,309.56. This trade represents a 2.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Private Ltd Gic also recently made the following trade(s):

• On Thursday, August 6th, Private Ltd Gic sold 271,994 shares of Medline stock. The stock was sold at an average price of $35.33, for a total transaction of $9,609,548.02.
• On Wednesday, August 5th, Private Ltd Gic sold 1,976,618 shares of Medline stock. The shares were sold at an average price of $35.60, for a total transaction of $70,367,600.80.

Medline Stock Up 0.4%

MDLN traded up $0.12 during trading hours on Tuesday, reaching $33.93. 1,848,100 shares of the stock traded hands, compared to its average volume of 7,357,333. The firm’s fifty day simple moving average is $38.18 and its two-hundred day simple moving average is $41.63. The company has a market cap of $44.58 billion and a price-to-earnings ratio of 105.93. Medline has a fifty-two week low of $32.81 and a fifty-two week high of $50.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. The firm had revenue of $7.68 billion during the quarter. As a group, analysts forecast that Medline will post 1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MDLN shares. Citigroup raised Medline to a “strong-buy” rating in a research report on Wednesday, August 5th. Wells Fargo & Company reduced their price target on shares of Medline from $45.00 to $34.00 and set an “equal weight” rating for the company in a research report on Tuesday. Sanford C. Bernstein lowered their price objective on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings upgraded Medline from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. Finally, Evercore set a $39.00 price target on Medline in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.96.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Carlyle Group Inc. acquired a new stake in shares of Medline during the 4th quarter valued at about $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new position in shares of Medline during the fourth quarter valued at about $4,179,591,000. Vanguard Group Inc. acquired a new position in shares of Medline in the fourth quarter valued at $793,278,000. Morgan Stanley bought a new stake in Medline in the fourth quarter valued at about $636,807,000. Finally, Capital Research Global Investors bought a new stake in Medline during the fourth quarter worth about $620,937,000.

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.