Norges Bank Acquires Shares of 5,000,000 Medline $MDLN

Norges Bank acquired a new stake in shares of Medline (NASDAQ:MDLN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,000,000 shares of the company’s stock, valued at approximately $210,000,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MDLN. Sound Income Strategies LLC bought a new stake in Medline during the 4th quarter valued at about $25,000. Entrust Financial LLC bought a new stake in shares of Medline in the fourth quarter worth approximately $26,000. NBC Securities Inc. bought a new stake in shares of Medline in the fourth quarter worth approximately $28,000. Global Retirement Partners LLC bought a new stake in shares of Medline in the fourth quarter worth approximately $31,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Medline in the fourth quarter worth approximately $36,000.

Medline Price Performance

Shares of NASDAQ MDLN opened at $33.19 on Wednesday. The firm’s 50 day simple moving average is $42.14. Medline has a 12-month low of $32.83 and a 12-month high of $50.88.

Medline (NASDAQ:MDLN) last announced its earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. Medline’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Medline will post 1.5 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDLN. Wells Fargo & Company lifted their price target on shares of Medline from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Royal Bank Of Canada lifted their price target on shares of Medline from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. BTIG Research reiterated a “buy” rating and issued a $55.00 price target on shares of Medline in a research note on Thursday, May 7th. Tigress Financial lifted their price target on shares of Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, BMO Capital Markets lifted their price target on shares of Medline from $45.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Medline currently has an average rating of “Moderate Buy” and a consensus price target of $50.65.

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.