Pelham Capital Ltd. Takes Position in Medline $MDLN

Key Points

• Pelham Capital acquired 149,598 Medline shares in the second quarter, valued at approximately $5.9 million and representing 3.4% of its portfolio.
• Medline reported quarterly EPS of $0.50, exceeding the $0.32 analyst consensus, on revenue of $7.68 billion. Shares opened at $35.03, near the lower end of their 52-week range.
• Wall Street maintains a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $47.42, although several firms recently lowered their targets. Insiders have sold more than $161.9 million of stock over the past 90 days.

Pelham Capital Ltd. acquired a new position in Medline (NASDAQ:MDLN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 149,598 shares of the company's stock, valued at approximately $5,900,000. Medline makes up 3.4% of Pelham Capital Ltd.'s investment portfolio, making the stock its 11th largest position.

A number of other institutional investors also recently bought and sold shares of the stock. Carlyle Group Inc. bought a new stake in Medline during the fourth quarter valued at about $9,042,728,000. H&F Corporate Investors X Ltd. bought a new position in shares of Medline in the fourth quarter worth about $4,179,591,000. Morgan Stanley bought a new position in shares of Medline in the fourth quarter worth about $636,807,000. Capital Research Global Investors purchased a new position in shares of Medline during the 4th quarter valued at about $620,937,000. Finally, Janus Henderson Group PLC grew its stake in shares of Medline by 8.4% during the 1st quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company's stock valued at $506,546,000 after acquiring an additional 887,240 shares during the period.

Medline Stock Down 0.7%

Shares of MDLN opened at $35.03 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61. The stock has a market capitalization of $46.05 billion and a price-to-earnings ratio of 44.34. Medline has a 1 year low of $32.49 and a 1 year high of $50.88. The business's 50 day simple moving average is $37.94 and its 200-day simple moving average is $40.52.

Medline (NASDAQ:MDLN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.18. The company had revenue of $7.68 billion during the quarter. As a group, equities analysts expect that Medline will post 1.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jessi L. Corcoran purchased 5,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the purchase, the insider owned 5,000 shares in the company, valued at approximately $170,750. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Private Ltd Gic sold 1,976,618 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.60, for a total transaction 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 approximately $899,425,456. This represents a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,538,896 shares of company stock worth $161,936,454 in the last ninety days. 0.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MDLN. Citigroup upgraded shares of Medline to a "strong-buy" rating in a research note on Wednesday, August 5th. Tigress Financial reduced their price objective on shares of Medline from $62.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Medline from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. Royal Bank Of Canada lowered their target price 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, William Blair reaffirmed an "outperform" rating on shares of Medline in a report on Thursday, June 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Medline presently has an average rating of "Moderate Buy" and an average target price of $47.42.

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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