Unisphere Establishment Buys 832,500 Shares of Medline $MDLN

Key Points

• Unisphere Establishment boosted its Medline stake by 50.5% in the first quarter, buying 832,500 shares to bring its total holding to 2,482,500 shares worth about $110.5 million.
• Medline posted solid quarterly results, with EPS of $0.33 beating estimates and revenue rising 10.7% year over year to $7.35 billion.
• Analysts remain broadly positive overall, with the stock holding a Moderate Buy consensus and an average price target of $50.54, though some firms have recently trimmed targets or ratings.

Unisphere Establishment grew its stake in Medline (NASDAQ:MDLN - Free Report) by 50.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,482,500 shares of the company's stock after buying an additional 832,500 shares during the period. Medline accounts for about 0.9% of Unisphere Establishment's holdings, making the stock its 26th biggest holding. Unisphere Establishment owned 0.19% of Medline worth $110,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new stake in Medline in the fourth quarter valued at approximately $25,000. Entrust Financial LLC bought a new position in Medline during the 4th quarter worth approximately $26,000. NBC Securities Inc. bought a new position in Medline during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new position in shares of Medline in the 1st quarter worth approximately $30,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Medline in the 4th quarter worth approximately $31,000.

Medline Price Performance

Shares of NASDAQ:MDLN opened at $38.75 on Friday. Medline has a twelve month low of $32.81 and a twelve month high of $50.88. The stock's 50 day moving average is $37.79 and its 200-day moving average is $41.92. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $50.91 billion and a price-to-earnings ratio of 121.09.

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

Insider Transactions at Medline

In related news, insider Jessi L. Corcoran acquired 5,000 shares of the firm's stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the acquisition, the insider owned 5,000 shares of the company's stock, valued at approximately $170,750. This trade represents a ∞ increase in their position. The purchase 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 the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider directly owned 23,899 shares of the company's stock, valued at approximately $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. 0.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MDLN shares. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on shares of Medline in a research report on Thursday, May 7th. BTIG Research restated a "buy" rating and issued a $55.00 target price on shares of Medline in a report on Thursday, May 7th. BNP Paribas Exane cut their price target on shares of Medline from $49.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, May 14th. Weiss Ratings downgraded Medline from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday. Finally, Robert W. Baird lowered their price objective on Medline from $57.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, June 3rd. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.54.

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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