Stephens Inc. AR Invests $3.83 Million in Medline $MDLN

Key Points

• Stephens Inc. AR opened a new position in Medline during the first quarter, buying 86,180 shares valued at about $3.83 million.
• Medline’s insider activity was mixed: Douglas P. Golwas sold 100,000 shares worth about $3.68 million, while Jessi L. Corcoran bought 5,000 shares.
• The stock was down 6.3% to $40.30, even as the company recently beat earnings estimates with $0.33 EPS and 10.7% revenue growth year over year.

Stephens Inc. AR bought a new stake in shares of Medline (NASDAQ:MDLN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 86,180 shares of the company's stock, valued at approximately $3,835,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new position in shares of Medline in the 4th quarter valued at about $25,000. Entrust Financial LLC acquired a new stake in Medline during the fourth quarter worth about $26,000. NBC Securities Inc. purchased a new position in Medline during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC acquired a new position in Medline in the fourth quarter valued at approximately $31,000. Finally, North Star Investment Management Corp. purchased a new stake in Medline in the 4th quarter worth approximately $36,000.

Insider Buying and Selling

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the transaction, the insider owned 23,899 shares of the company's stock, valued at approximately $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessi L. Corcoran bought 5,000 shares of the company's stock in a transaction on Friday, June 5th. The stock was bought at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the acquisition, the insider owned 5,000 shares in the company, valued at $170,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDLN. Robert W. Baird cut their target price on shares of Medline from $57.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, June 3rd. Sanford C. Bernstein cut their price objective on shares of Medline from $56.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. 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. Tigress Financial increased their target price on shares of Medline from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $50.54.

Medline Trading Down 6.3%

Shares of MDLN opened at $40.30 on Thursday. Medline has a 52-week low of $32.81 and a 52-week high of $50.88. The stock has a market cap of $52.94 billion and a PE ratio of 125.94. The firm's fifty day moving average is $38.18 and its two-hundred day moving average is $42.19. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65.

Medline (NASDAQ:MDLN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts forecast that Medline will post 1.49 earnings per share for the current fiscal year.

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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