Pictet Asset Management Holding SA Buys New Shares in Medline $MDLN

Key Points

• Pictet Asset Management bought a new position of 1,166,573 Medline shares (about $49 million), representing roughly 0.09% of the company at quarter-end.
• Medline missed EPS estimates (reported -$0.01 vs. $0.24 expected) but beat revenue forecasts with $7.79 billion in sales, up 14.8% year-over-year.
• Analysts are broadly constructive, with multiple firms initiating/raising coverage and a MarketBeat consensus of "Moderate Buy" and an average price target of $50.62.

Pictet Asset Management Holding SA bought a new position in shares of Medline (NASDAQ:MDLN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,166,573 shares of the company's stock, valued at approximately $48,996,000. Pictet Asset Management Holding SA owned about 0.09% of Medline at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MDLN. Sound Income Strategies LLC bought a new position in shares of Medline in the 4th quarter valued at about $25,000. NBC Securities Inc. bought a new stake in shares of Medline in the 4th quarter valued at about $28,000. WPG Advisers LLC bought a new stake in shares of Medline in the 4th quarter valued at about $38,000. Perigon Wealth Management LLC acquired a new stake in Medline in the 4th quarter valued at about $211,000. Finally, Nadler Financial Group Inc. bought a new position in Medline during the fourth quarter worth about $354,000.

Medline Trading Down 1.9%

Medline stock opened at $43.40 on Thursday. The firm has a 50-day moving average of $44.87. Medline has a twelve month low of $34.89 and a twelve month high of $50.88.

Medline (NASDAQ:MDLN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.25). The firm had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.52 billion. Medline's revenue was up 14.8% on a year-over-year basis. As a group, equities analysts forecast that Medline will post 1.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on MDLN. Royal Bank Of Canada upped their price objective on Medline from $47.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, February 26th. Tigress Financial lifted their target price on Medline from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, March 9th. Wolfe Research began coverage on Medline in a report on Monday, January 12th. They set an "outperform" rating and a $47.00 target price on the stock. Piper Sandler assumed coverage on Medline in a report on Monday, January 12th. They set an "overweight" rating and a $50.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Medline in a research report on Monday, January 12th. They set a "buy" rating and a $49.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Medline has an average rating of "Moderate Buy" and a consensus price target of $50.62.

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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