Medline $MDLN Stock: Oppenheimer & Co. Inc. Grows Position

Key Points

• Institutional interest increased: Oppenheimer & Co. raised its Medline stake by 1,022.3% in the third quarter to 60,023 shares worth approximately $2.08 million. Several other large investors also substantially increased their positions.
• Insider selling continued: Major shareholder Private Ltd Gic sold 2.09 million shares for about $73.2 million, while insiders sold roughly $382.8 million of stock during the last quarter.
• Analysts remain positive but lowered targets: Medline holds a “Moderate Buy” consensus rating with an average price target of $46.54, despite several firms recently reducing their targets. The stock opened at $32.12, near its 12-month low, after the company exceeded quarterly EPS expectations.

Oppenheimer & Co. Inc. boosted its holdings in Medline (NASDAQ:MDLN - Free Report) by 1,022.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,023 shares of the company's stock after purchasing an additional 54,675 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Medline were worth $2,083,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MDLN. Mass General Brigham Inc raised its holdings in shares of Medline by 167.6% in the first quarter. Mass General Brigham Inc now owns 70,357 shares of the company's stock valued at $3,131,000 after buying an additional 44,063 shares during the last quarter. Andra AP fonden acquired a new stake in shares of Medline during the second quarter worth about $3,180,000. Cetera Investment Advisers boosted its stake in shares of Medline by 128.4% during the first quarter. Cetera Investment Advisers now owns 52,088 shares of the company's stock worth $2,318,000 after buying an additional 29,282 shares during the period. Baird Financial Group Inc. grew its holdings in shares of Medline by 1,151.5% during the second quarter. Baird Financial Group Inc. now owns 379,944 shares of the company's stock worth $14,985,000 after buying an additional 349,584 shares during the last quarter. Finally, WINTON GROUP Ltd grew its holdings in shares of Medline by 1,263.0% during the second quarter. WINTON GROUP Ltd now owns 367,057 shares of the company's stock worth $14,477,000 after buying an additional 340,127 shares during the last quarter.

Insider Buying and Selling

In other Medline news, major shareholder Private Ltd Gic sold 2,088,987 shares of the company's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $35.05, for a total transaction of $73,218,994.35. Following the transaction, the insider directly owned 16,453,806 shares in the company, valued at approximately $576,705,900.30. This represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 10,787,572 shares of company stock worth $382,784,591 over the last quarter. 0.81% of the stock is currently owned by insiders.

Medline Stock Performance

NASDAQ MDLN opened at $32.12 on Friday. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. The business's 50 day moving average is $34.51 and its two-hundred day moving average is $39.63. Medline has a 12-month low of $31.37 and a 12-month high of $50.88. The stock has a market capitalization of $42.23 billion and a price-to-earnings ratio of 40.66.

Medline (NASDAQ:MDLN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.32 by $0.18. The business had revenue of $7.68 billion during the quarter. Research analysts expect that Medline will post 1.49 EPS for the current year.

Analyst Ratings Changes

MDLN has been the topic of several recent research reports. Barclays dropped their price target on Medline from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday, October 9th. JPMorgan Chase & Co. lowered their target price on Medline from $53.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 12th. UBS Group dropped their target price on Medline from $45.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, September 25th. Royal Bank Of Canada dropped their price objective on shares of Medline from $53.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Finally, Truist Financial cut their price objective on shares of Medline from $56.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.54.

Medline Company Profile

Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.

Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.

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