Medline $MDLN Shares Sold by PensionDanmark Pensionsforsikringsaktieselskab

Key Points

• PensionDanmark cut its Medline stake by 95.8% in the second quarter, selling 114,499 shares and retaining 5,000 shares valued at approximately $197,000.
• Medline shares opened at $33.81, down 4%, near the company’s 12-month low of $32.81. The stock has a market capitalization of $44.42 billion and trades at a P/E ratio of 105.66.
• Medline reported quarterly earnings of $0.50 per share, beating analyst expectations of $0.32, on revenue of $7.68 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $48.46, although insiders have sold more than $83.6 million in stock over the past three months.

PensionDanmark Pensionsforsikringsaktieselskab lessened its holdings in shares of Medline (NASDAQ:MDLN - Free Report) by 95.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the company's stock after selling 114,499 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Medline were worth $197,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new position in Medline during the 4th quarter worth $25,000. GAMMA Investing LLC raised its stake in Medline by 68.3% during the second quarter. GAMMA Investing LLC now owns 626 shares of the company's stock worth $25,000 after acquiring an additional 254 shares during the period. Entrust Financial LLC acquired a new stake in shares of Medline during the 4th quarter worth approximately $26,000. NBC Securities Inc. bought a new stake in Medline in the fourth quarter valued at $28,000. Finally, Whipplewood Advisors LLC bought a new stake in Medline in the 1st quarter valued at about $30,000.

Insider Buying and Selling at Medline

In other Medline news, major shareholder Private Ltd Gic sold 1,976,618 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $35.60, for a total value of $70,367,600.80. Following the completion of the sale, the insider owned 25,264,760 shares of the company's stock, valued at $899,425,456. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price 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 in the company, valued at approximately $170,750. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 2,348,612 shares of company stock worth $83,654,149 over the last three months. Corporate insiders own 0.81% of the company's stock.

Medline Trading Down 4.0%

Shares of NASDAQ:MDLN opened at $33.81 on Tuesday. The firm has a fifty day moving average of $38.18 and a two-hundred day moving average of $41.63. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. The firm has a market capitalization of $44.42 billion and a P/E ratio of 105.66.

Medline (NASDAQ:MDLN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.18. The firm had revenue of $7.68 billion during the quarter. On average, equities analysts expect that Medline will post 1.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on MDLN. Tigress Financial lifted their target price on Medline from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Medline from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday. Royal Bank Of Canada dropped their price target on shares of Medline from $53.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday. BTIG Research reaffirmed a "buy" rating and issued a $55.00 price target on shares of Medline in a research note on Friday, July 31st. Finally, BNP Paribas Exane decreased their price objective on shares of Medline from $49.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, May 14th. One equities 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 given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.46.

Medline 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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