Fjarde AP Fonden Fourth Swedish National Pension Fund Takes $1.89 Million Position in Medline $MDLN

Key Points

• Fjarde AP Fonden opened a new position in Medline during the fourth quarter, buying 45,000 shares valued at about $1.89 million.
• Medline has attracted significant institutional interest overall, with large funds like Vanguard, Baillie Gifford, MFS, Norges Bank, and Geode also taking new stakes in the company.
• The stock is being supported by positive operational news, including a recent debt refinancing and stronger-than-expected quarterly results, though concerns remain around a securities-fraud investigation and a lower price target from Barclays.

Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in Medline (NASDAQ:MDLN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 45,000 shares of the company's stock, valued at approximately $1,890,000.

Several other hedge funds have also recently added to or reduced their stakes in MDLN. Vanguard Group Inc. acquired a new stake in Medline in the fourth quarter valued at approximately $793,278,000. Baillie Gifford & Co. acquired a new stake in Medline in the fourth quarter valued at approximately $437,236,000. Massachusetts Financial Services Co. MA acquired a new stake in Medline in the fourth quarter valued at approximately $429,544,000. Norges Bank acquired a new stake in Medline in the fourth quarter valued at approximately $210,000,000. Finally, Geode Capital Management LLC acquired a new stake in Medline in the fourth quarter valued at approximately $123,923,000.

Key Stories Impacting Medline

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline completed a major debt refinancing, including new senior secured notes and a new term loan facility, which should reduce near-term funding uncertainty and support liquidity. Medline shares rise as investors digest recent refinancing and large secondary offering
• Positive Sentiment: Investors may also be responding favorably to the fact that the large 72.6 million-share secondary offering was sold by existing shareholders, meaning it was not a primary dilution event for the company itself. Medline shares rise as investors digest recent refinancing and large secondary offering
• Positive Sentiment: Recent insider buying, including a purchase by Principal Accounting Officer Jessi L. Corcoran, may be helping sentiment by signaling internal confidence. MarketBeat MDLN news
• Neutral Sentiment: Medline presented at the Goldman Sachs 47th Annual Global Healthcare Conference, which may have helped keep attention on the company but did not include a clear new catalyst in the provided details. Medline conference transcript
• Neutral Sentiment: Medline is also expanding its manufacturing footprint in Slovakia, a longer-term growth initiative that is supportive but not an immediate stock-moving event. Medline expands manufacturing footprint in Slovakia
• Negative Sentiment: Ongoing securities-fraud investigation headlines could weigh on shares by raising legal and disclosure-risk concerns, even if no wrongdoing has been proven. Securities fraud investigation announced
• Negative Sentiment: Analyst commentary has turned a bit more cautious, with Barclays recently trimming its price target to $45 from $50 due to margin-pressure concerns. Medline analyst coverage article

Analyst Ratings Changes

Several brokerages recently weighed in on MDLN. William Blair reaffirmed an "outperform" rating on shares of Medline in a report on Thursday, June 4th. JPMorgan Chase & Co. raised their target price on shares of Medline from $50.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, March 10th. Barclays reduced their target price on shares of Medline from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, June 1st. Stifel Nicolaus set a $55.00 target price on shares of Medline in a report on Wednesday, February 25th. Finally, Wells Fargo & Company raised their target price on shares of Medline from $42.00 to $47.00 and gave the company an "equal weight" rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.54.

Insider Activity at Medline

In other Medline news, insider Jessi L. Corcoran bought 5,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $34.15 per share, with a total value of $170,750.00. Following the acquisition, the insider directly owned 5,000 shares of the company's stock, valued at $170,750. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.81% of the stock is owned by insiders.

Medline Price Performance

MDLN stock opened at $36.01 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. Medline has a twelve month low of $32.81 and a twelve month high of $50.88. The business's 50 day moving average is $41.18.

Medline (NASDAQ:MDLN - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The company had revenue of $7.35 billion for the quarter. The business's revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Medline will post 1.51 earnings per share for the current fiscal year.

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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