Bradley Foster & Sargent Inc. CT Buys Shares of 389,457 Medline $MDLN

Key Points

• Bradley Foster & Sargent Inc. CT disclosed a new first-quarter position in Medline, buying 389,457 shares valued at about $17.33 million.
• Several other investors also added to or initiated stakes in Medline, while analyst sentiment remains generally positive with a Moderate Buy consensus and a target price of $50.54.
• Medline reported better-than-expected Q1 earnings of $0.33 EPS on $7.35 billion in revenue, with revenue rising 10.7% year over year, even as an insider recently sold a large block of shares.

Bradley Foster & Sargent Inc. CT purchased a new position in Medline (NASDAQ:MDLN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 389,457 shares of the company's stock, valued at approximately $17,331,000.

A number of other large investors have also made changes to their positions in MDLN. North Star Investment Management Corp. boosted its position in shares of Medline by 60.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,362 shares of the company's stock worth $61,000 after purchasing an additional 512 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Medline during the 4th quarter valued at about $25,000. Entrust Financial LLC acquired a new position in Medline during the 4th quarter valued at about $26,000. NBC Securities Inc. purchased a new stake in Medline in the fourth quarter valued at about $28,000. Finally, Whipplewood Advisors LLC purchased a new stake in Medline in the first quarter valued at about $30,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays dropped their price target on 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 decreased their price objective on shares of 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 cut shares of Medline from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday. BTIG Research reissued a "buy" rating and set a $55.00 target price on shares of Medline in a research report on Thursday, May 7th. Finally, William Blair restated an "outperform" rating on shares of Medline in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.54.

Insider Activity at Medline

In related news, insider Douglas P. Golwas sold 100,000 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were 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 owned 23,899 shares of the company's stock, valued at $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessi L. Corcoran bought 5,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the transaction, the insider directly 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 SEC filing for this purchase provides additional information. Insiders own 0.81% of the company's stock.

Medline Stock Up 3.0%

Shares of MDLN stock opened at $38.75 on Friday. Medline has a fifty-two week low of $32.81 and a fifty-two week high of $50.88. The firm has a market capitalization of $50.91 billion and a PE ratio of 121.09. 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 stock's 50-day simple moving average is $37.79 and its 200-day simple moving average is $41.92.

Medline (NASDAQ:MDLN - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The firm had revenue of $7.35 billion for the quarter. Medline's quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts expect 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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