127,883 Shares in Medline $MDLN Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 127,883 Medline shares worth approximately $5.04 million in the second quarter, joining several other institutions that recently initiated or increased positions.
• Analysts maintain a generally positive outlook, with 23 of 29 covering analysts rating Medline Buy or Strong Buy. The consensus price target is $47.42, although several firms recently lowered their targets.
• Medline reported quarterly EPS of $0.50, beating the $0.32 consensus estimate, on $7.68 billion in revenue. Shares opened at $36.30, while insiders have sold approximately 4.54 million shares worth $161.9 million over the past 90 days.

Public Employees Retirement System of Ohio acquired a new stake in Medline (NASDAQ:MDLN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 127,883 shares of the company's stock, valued at approximately $5,044,000.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Medline by 68.3% during the second quarter. GAMMA Investing LLC now owns 626 shares of the company's stock worth $25,000 after purchasing an additional 254 shares in the last quarter. Entrust Financial LLC acquired a new stake in Medline during the 4th quarter valued at $26,000. Whipplewood Advisors LLC purchased a new stake in Medline during the 1st quarter worth $30,000. Global Retirement Partners LLC acquired a new position in Medline in the 4th quarter worth $31,000. Finally, Whittier Trust Co. purchased a new position in Medline in the 1st quarter valued at about $49,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MDLN. Barclays dropped their target price on Medline from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, June 1st. BTIG Research restated a "buy" rating and set a $55.00 price objective on shares of Medline in a report on Thursday, August 27th. Stifel Nicolaus cut their target price on Medline from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company decreased 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, August 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Medline from $53.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Medline presently has an average rating of "Moderate Buy" and a consensus price target of $47.42.

Insider Buying and Selling

In related news, major shareholder Private Ltd Gic sold 100,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $35.80, for a total transaction of $3,580,000.00. Following the completion of the transaction, the insider owned 22,802,482 shares in the company, valued at $816,328,855.60. The trade was a 0.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the transaction, the insider owned 23,899 shares of the company's stock, valued at approximately $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,538,896 shares of company stock valued at $161,936,454. Insiders own 0.81% of the company's stock.

Medline Price Performance

Shares of NASDAQ:MDLN opened at $36.30 on Thursday. The company has a market cap of $47.72 billion and a PE ratio of 45.95. Medline has a fifty-two week low of $32.49 and a fifty-two week high of $50.88. The firm has a 50-day simple moving average of $37.94 and a 200 day simple moving average of $40.39. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66.

Medline (NASDAQ:MDLN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.18. The company had revenue of $7.68 billion during the quarter. On average, sell-side analysts anticipate that Medline will post 1.51 EPS for the current 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.

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