1,357,563 Shares in Medline $MDLN Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments disclosed a new first-quarter stake in Medline, buying 1,357,563 shares worth about $59.7 million and ending with 0.10% ownership.
• Insider activity was mixed: Jessi L. Corcoran bought 5,000 shares, while Douglas P. Golwas sold 100,000 shares in June.
• Analysts remain cautiously positive overall, with a consensus “Moderate Buy” rating and an average price target of $50.54, even as several firms cut targets and Medline’s stock traded down 3.2% to $39.79.

Allspring Global Investments Holdings LLC bought a new position in shares of Medline (NASDAQ:MDLN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,357,563 shares of the company's stock, valued at approximately $59,733,000. Allspring Global Investments Holdings LLC owned 0.10% of Medline as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MDLN. Carlyle Group Inc. acquired a new stake in Medline during the fourth quarter valued at $9,042,728,000. H&F Corporate Investors X Ltd. purchased a new stake in shares of Medline during the fourth quarter worth $4,179,591,000. Vanguard Group Inc. purchased a new stake in shares of Medline during the fourth quarter worth $793,278,000. Morgan Stanley acquired a new stake in shares of Medline in the fourth quarter valued at about $636,807,000. Finally, Capital Research Global Investors acquired a new stake in shares of Medline in the fourth quarter valued at about $620,937,000.

Insider Transactions at Medline

In other Medline news, insider Jessi L. Corcoran acquired 5,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the transaction, the insider owned 5,000 shares of the company's stock, valued at $170,750. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MDLN shares. BNP Paribas Exane dropped their price objective on shares of Medline from $49.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, May 14th. Barclays decreased their target price on shares of Medline from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, June 1st. Robert W. Baird dropped their price target on Medline from $57.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, June 3rd. Weiss Ratings lowered Medline from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 15th. Finally, Sanford C. Bernstein reduced their price objective on Medline from $56.00 to $54.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Medline currently has a consensus rating of "Moderate Buy" and an average target price of $50.54.

Medline Stock Down 3.2%

Shares of NASDAQ MDLN opened at $39.79 on Friday. The company has a market capitalization of $52.27 billion and a P/E ratio of 124.34. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. The company has a 50 day simple moving average of $37.79 and a 200-day simple moving average of $42.04. Medline has a 1 year low of $32.81 and a 1 year high of $50.88.

Medline (NASDAQ:MDLN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts predict that Medline will post 1.49 earnings per share for the current year.

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.

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