H&F Corporate Investors X Ltd. Sells 15,599,171 Shares of Medline $MDLN

Key Points

• H&F Corporate Investors X Ltd. sold 15.6 million Medline shares in the second quarter, reducing its stake by 18% to 70.9 million shares, or approximately 5.39% of the company.
• Medline reported quarterly EPS of $0.50, exceeding estimates of $0.32, on revenue of $7.68 billion. The stock opened at $36.59, with a market capitalization of about $48.1 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $47.42, although several firms recently lowered their targets. Insiders sold approximately 4.54 million shares worth $161.9 million over the past three months.

H&F Corporate Investors X Ltd. reduced its position in shares of Medline (NASDAQ:MDLN - Free Report) by 18.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,874,326 shares of the company's stock after selling 15,599,171 shares during the period. Medline comprises about 100.0% of H&F Corporate Investors X Ltd.'s holdings, making the stock its largest holding. H&F Corporate Investors X Ltd. owned about 5.39% of Medline worth $2,795,283,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. HB Wealth Management LLC acquired a new position in Medline during the 2nd quarter worth about $680,000. Saudi Central Bank purchased a new position in Medline during the 2nd quarter valued at about $1,020,000. Syntax Research Inc. acquired a new position in Medline in the 2nd quarter valued at about $89,000. Kampmann Melissa S. grew its position in Medline by 156.2% in the 2nd quarter. Kampmann Melissa S. now owns 13,938 shares of the company's stock valued at $550,000 after acquiring an additional 8,498 shares in the last quarter. Finally, Nykredit A S purchased a new stake in Medline during the second quarter worth about $1,424,000.

Medline Price Performance

MDLN stock opened at $36.59 on Monday. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. Medline has a twelve month low of $32.49 and a twelve month high of $50.88. The company's 50 day moving average is $37.87 and its two-hundred day moving average is $40.28. The stock has a market cap of $48.11 billion and a P/E ratio of 46.32.

Medline (NASDAQ:MDLN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.18. The company had revenue of $7.68 billion during the quarter. Research analysts expect that Medline will post 1.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of Medline from $56.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. William Blair restated an "outperform" rating on shares of Medline in a report on Thursday, June 4th. Stifel Nicolaus cut their target price on shares of Medline from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. TD Cowen reduced their target price on shares of Medline from $53.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Finally, BTIG Research reissued a "buy" rating and issued a $55.00 price target on shares of Medline in a research report on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.42.

Insiders Place Their Bets

In other news, major shareholder Private Ltd Gic sold 100,000 shares of Medline stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.80, for a total transaction of $3,580,000.00. Following the sale, the insider owned 22,802,482 shares in the company, valued at approximately $816,328,855.60. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Golwas sold 100,000 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider directly owned 23,899 shares of the company's stock, valued at $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 4,538,896 shares of company stock valued at $161,936,454. 0.81% of the stock is owned by corporate insiders.

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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