Washington Trust Advisors Inc. Makes New $5.37 Million Investment in Medline $MDLN

Key Points

• Washington Trust Advisors initiated a $5.37 million position in Medline by purchasing 136,179 shares during the second quarter. Several other major institutional investors also established or increased holdings.
• Medline reported quarterly earnings of $0.50 per share, beating estimates of $0.32, on revenue of $7.68 billion. Analysts expect full-year earnings of approximately $1.51 per share.
• MDLN opened at $36.59, well below its 52-week high of $50.88, while analysts maintain a “Moderate Buy” consensus and an average price target of $47.42; however, insiders sold roughly $161.9 million in shares over the past 90 days.

Washington Trust Advisors Inc. purchased a new stake in Medline (NASDAQ:MDLN - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 136,179 shares of the company's stock, valued at approximately $5,371,000.

Several other large investors have also recently made changes to their positions in MDLN. 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 Medline in the fourth quarter worth about $4,179,591,000. Morgan Stanley purchased a new stake in shares of Medline during the fourth quarter valued at about $636,807,000. Capital Research Global Investors purchased a new stake in shares of Medline during the fourth quarter valued at about $620,937,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Medline by 8.4% in the 1st quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company's stock valued at $506,546,000 after buying an additional 887,240 shares in the last quarter.

Medline Stock Performance

Shares of MDLN stock opened at $36.59 on Monday. The business has a fifty day moving average of $37.87 and a 200 day moving average of $40.28. Medline has a 1 year low of $32.49 and a 1 year high of $50.88. 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 firm has a market capitalization of $48.11 billion and a price-to-earnings ratio of 46.32.

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

Insider Buying and Selling at Medline

In related news, insider Douglas Golwas sold 100,000 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the completion of the transaction, the insider directly owned 23,899 shares in the company, valued at $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Private Ltd Gic sold 100,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.80, for a total value of $3,580,000.00. Following the sale, the insider directly owned 22,802,482 shares in the company, valued at $816,328,855.60. This represents a 0.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,538,896 shares of company stock worth $161,936,454 over the last ninety days. Insiders own 0.81% of the company's stock.

Analyst Ratings Changes

MDLN has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $37.00 target price on shares of Medline in a research note on Thursday, August 6th. Royal Bank Of Canada decreased their price objective on Medline from $53.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Weiss Ratings raised Medline from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. BNP Paribas Exane dropped their target price on Medline from $49.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, May 14th. Finally, Truist Financial decreased their price target on Medline from $56.00 to $47.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.42.

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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