Bank of New York Mellon Corp Has $31.39 Million Holdings in Medline $MDLN

Key Points

• Bank of New York Mellon increased its Medline position by 1,335.4% in the first quarter, owning 705,270 shares valued at approximately $31.39 million, or 0.05% of the company.
• Medline reported quarterly EPS of $0.33, beating estimates of $0.29, while revenue reached $7.35 billion, up 10.7% year over year.
• Analysts maintain a consensus “Moderate Buy” rating with a $50.54 price target, although several firms recently lowered their targets; Medline shares opened at $38.75.

Bank of New York Mellon Corp grew its position in shares of Medline (NASDAQ:MDLN - Free Report) by 1,335.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 705,270 shares of the company's stock after acquiring an additional 656,135 shares during the quarter. Bank of New York Mellon Corp owned about 0.05% of Medline worth $31,385,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC acquired a new position in Medline during the fourth quarter worth $25,000. Entrust Financial LLC acquired a new position in shares of Medline during the fourth quarter valued at about $26,000. NBC Securities Inc. bought a new stake in shares of Medline during the fourth quarter worth about $28,000. Whipplewood Advisors LLC bought a new stake in shares of Medline during the first quarter worth about $30,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Medline in the 4th quarter worth about $31,000.

Medline Price Performance

MDLN opened at $38.75 on Monday. Medline has a fifty-two week low of $32.81 and a fifty-two week high of $50.88. The firm has a 50-day moving average of $37.79 and a 200 day moving average of $41.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. The firm has a market cap of $50.91 billion and a P/E ratio of 121.09.

Medline (NASDAQ:MDLN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion during the quarter. The business's revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts expect that Medline will post 1.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BNP Paribas Exane dropped their price target on shares of Medline from $49.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, May 14th. Tigress Financial increased their price objective on Medline from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft set a $42.00 target price on Medline in a report on Thursday, May 7th. Sanford C. Bernstein cut their target price on Medline from $56.00 to $54.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Finally, Barclays decreased their price target on Medline from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.54.

Insider Activity at Medline

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction on 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 completion of the transaction, the insider directly owned 23,899 shares of the company's stock, valued at approximately $878,766.23. This represents a 80.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessi L. Corcoran acquired 5,000 shares of Medline stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the completion of the acquisition, the insider owned 5,000 shares of the company's stock, valued at $170,750. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.81% of the company's stock.

Medline Company 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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