Andra AP fonden Makes New Investment in Medline $MDLN

Key Points

• Andra AP fonden acquired 80,639 Medline shares during the second quarter, valued at approximately $3.18 million, while several other institutional investors also increased or initiated positions.
• Wall Street maintains a broadly positive view, with a consensus rating of “Moderate Buy” and an average price target of $47.42 versus Medline’s recent $34.30 share price, although several analysts recently lowered their targets.
• Medline exceeded quarterly earnings expectations, reporting $0.50 in EPS versus a $0.32 consensus estimate on $7.68 billion in revenue; however, insiders sold more than 4.4 million shares worth approximately $158.3 million over the past 90 days.

Andra AP fonden purchased a new stake in Medline (NASDAQ:MDLN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 80,639 shares of the company's stock, valued at approximately $3,180,000.

A number of other large investors have also modified their holdings of MDLN. GAMMA Investing LLC grew its stake in Medline by 68.3% during the 2nd 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. Whipplewood Advisors LLC acquired a new stake in Medline in the 1st quarter valued at about $30,000. NewEdge Advisors LLC boosted its stake in shares of Medline by 100.0% in the 2nd quarter. NewEdge Advisors LLC now owns 950 shares of the company's stock valued at $37,000 after buying an additional 475 shares during the period. Allworth Financial LP boosted its stake in shares of Medline by 86.2% in the 2nd quarter. Allworth Financial LP now owns 1,052 shares of the company's stock valued at $41,000 after buying an additional 487 shares during the period. Finally, Whittier Trust Co. acquired a new position in shares of Medline during the first quarter worth about $49,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MDLN. BTIG Research reaffirmed a "buy" rating and issued a $55.00 target price on shares of Medline in a report on Thursday, August 27th. Truist Financial lowered their price target on shares of Medline from $56.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Royal Bank Of Canada reduced their price objective on shares of Medline from $53.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. JPMorgan Chase & Co. decreased their price objective on shares of Medline from $53.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, August 12th. Finally, William Blair reiterated an "outperform" rating on shares of Medline in a research note on Wednesday. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.42.

Medline Price Performance

MDLN stock opened at $34.30 on Thursday. The business has a 50 day moving average price of $35.85 and a 200 day moving average price of $39.01. The stock has a market cap of $45.09 billion and a price-to-earnings ratio of 43.42. Medline has a fifty-two week low of $31.49 and a fifty-two week high of $50.88. 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 posted 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. Equities research analysts anticipate that Medline will post 1.51 earnings per share for the current fiscal year.

Insider Activity

In other Medline news, major shareholder Private Ltd Gic sold 1,976,618 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $35.60, for a total transaction of $70,367,600.80. Following the transaction, the insider owned 25,264,760 shares of the company's stock, valued at approximately $899,425,456. This trade represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 4,438,896 shares of company stock worth $158,259,454 over the last 90 days. Company insiders own 0.81% of the company's stock.

About Medline

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies and clinical products. Its offerings include surgical and exam gloves, personal protective equipment, operating-room supplies, wound-care products, patient-care items, laboratory products, apparel, and durable medical equipment.

The company serves hospitals, health systems, ambulatory surgery centers, physicians' offices, long-term-care facilities, home-health providers, and other healthcare organizations.

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