Janus Henderson Group PLC Has $506.55 Million Holdings in Medline $MDLN

Key Points

• Janus Henderson increased its Medline stake by 8.4% in the first quarter, holding 11.45 million shares worth approximately $506.55 million, or 0.87% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $50.54, although several firms recently lowered their targets.
• Medline reported quarterly earnings of $0.33 per share, exceeding estimates of $0.29, while revenue rose 10.7% year over year to $7.35 billion. The stock opened at $40.08, and recent insider activity included a 5,000-share purchase and a 100,000-share sale.

Janus Henderson Group PLC increased its holdings in Medline (NASDAQ:MDLN - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,451,861 shares of the company's stock after purchasing an additional 887,240 shares during the quarter. Janus Henderson Group PLC owned approximately 0.87% of Medline worth $506,546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MDLN. North Star Investment Management Corp. lifted its holdings in Medline by 60.2% during the 1st quarter. North Star Investment Management Corp. now owns 1,362 shares of the company's stock worth $61,000 after buying an additional 512 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Medline in the fourth quarter valued at about $25,000. Entrust Financial LLC acquired a new stake in shares of Medline in the fourth quarter valued at about $26,000. NBC Securities Inc. bought a new position in shares of Medline during the fourth quarter worth about $28,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Medline during the first quarter worth about $30,000.

Wall Street Analysts Forecast Growth

MDLN has been the topic of several analyst reports. Weiss Ratings cut Medline from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, July 23rd. Sanford C. Bernstein lowered their price target on shares of Medline from $56.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. Barclays dropped their price target on shares of Medline from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, June 1st. Citigroup reduced their price objective on shares of Medline from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Finally, BTIG Research reiterated a "buy" rating and set a $55.00 price objective on shares of Medline in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Medline currently has an average rating of "Moderate Buy" and a consensus price target of $50.54.

Medline Stock Down 1.1%

Shares of Medline stock opened at $40.08 on Thursday. The stock's 50-day moving average is $38.00 and its 200 day moving average is $41.94. Medline has a one year low of $32.81 and a one year high of $50.88. The firm has a market cap of $52.65 billion and a price-to-earnings ratio of 125.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51.

Medline (NASDAQ:MDLN - Get Free Report) last issued its earnings results 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 business had revenue of $7.35 billion during the quarter. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Medline will post 1.49 EPS for the current year.

Insider Activity at Medline

In related news, insider Jessi L. Corcoran bought 5,000 shares of the business's stock in a transaction that occurred on 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 completion of the purchase, the insider directly owned 5,000 shares in the company, valued at $170,750. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of the firm's 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 sale, the insider 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 SEC filing for this sale 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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