Medline $MDLN Stock Holdings Lifted by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Medline (NASDAQ:MDLN - Free Report) by 233.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 5,000,000 shares of the company's stock after acquiring an additional 3,500,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.38% of Medline worth $222,500,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Carlyle Group Inc. acquired a new position in shares of Medline in the 4th quarter worth $9,042,728,000. H&F Corporate Investors X Ltd. purchased a new stake in shares of Medline during the fourth quarter valued at $4,179,591,000. Vanguard Group Inc. acquired a new position in shares of Medline in the 4th quarter valued at $793,278,000. Morgan Stanley acquired a new position in shares of Medline in the 4th quarter valued at $636,807,000. Finally, Capital Research Global Investors purchased a new position in Medline in the 4th quarter worth about $620,937,000.

Medline Price Performance

MDLN opened at $38.75 on Friday. The stock has a fifty day moving average price of $37.79 and a 200 day moving average price of $41.92. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The stock has a market cap of $50.91 billion and a price-to-earnings ratio of 121.09.

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 the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts forecast that Medline will post 1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on MDLN shares. Tigress Financial boosted their price objective on Medline from $60.00 to $62.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Weiss Ratings cut shares of Medline from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday. Sanford C. Bernstein dropped their target price on shares of Medline from $56.00 to $54.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft set a $42.00 price target on shares of Medline in a report on Thursday, May 7th. Finally, Citigroup decreased their price objective on shares of Medline from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Medline currently has a consensus rating of "Moderate Buy" and an average price target of $50.54.

Insider Activity at Medline

In other Medline news, insider Jessi L. Corcoran acquired 5,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 5,000 shares in the company, valued at $170,750. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction that occurred on Tuesday, June 16th. The shares were 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. This trade represents a 80.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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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