Medline $MDLN Shares Sold by Siren L.L.C.

Key Points

• Siren L.L.C. cut its Medline stake by 66.7% in Q1, selling 50,000 shares and leaving it with 25,000 shares worth about $1.11 million.
• Medline recently reported better-than-expected earnings of $0.33 per share on revenue of $7.35 billion, with revenue up 10.7% year over year.
• Analysts remain generally positive, with a Moderate Buy consensus and a price target of $50.54, though some firms have trimmed their targets and Weiss Ratings downgraded the stock to Sell.

Siren L.L.C. cut its stake in Medline (NASDAQ:MDLN - Free Report) by 66.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the company's stock after selling 50,000 shares during the quarter. Siren L.L.C.'s holdings in Medline were worth $1,112,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MDLN. Sound Income Strategies LLC purchased a new position in shares of Medline during the 4th quarter valued at approximately $25,000. Entrust Financial LLC acquired a new position in shares of Medline in the 4th quarter valued at $26,000. NBC Securities Inc. purchased a new stake in Medline during the fourth quarter worth $28,000. Whipplewood Advisors LLC acquired a new stake in Medline during the first quarter valued at $30,000. Finally, Global Retirement Partners LLC acquired a new stake in Medline during the fourth quarter valued at $31,000.

Medline Stock Performance

NASDAQ:MDLN opened at $37.63 on Friday. 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 has a market capitalization of $49.43 billion and a PE ratio of 117.59. Medline has a fifty-two week low of $32.81 and a fifty-two week high of $50.88. The company has a fifty day moving average of $37.74 and a two-hundred day moving average of $41.95.

Medline (NASDAQ:MDLN - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion during the quarter. The company's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts forecast that Medline will post 1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MDLN. Barclays decreased their price objective on shares of Medline from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, June 1st. William Blair restated an "outperform" rating on shares of Medline in a research report on Thursday, June 4th. Sanford C. Bernstein reduced their price target on Medline from $56.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. BTIG Research reiterated a "buy" rating and set a $55.00 price target on shares of Medline in a research report on Thursday, May 7th. Finally, Weiss Ratings lowered Medline from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.54.

Insider Transactions at Medline

In related news, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the sale, the insider directly owned 23,899 shares in the company, valued at approximately $878,766.23. The trade was a 80.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jessi L. Corcoran acquired 5,000 shares of the business's stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the purchase, the insider owned 5,000 shares in the company, valued at $170,750. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.81% of the company's stock.

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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