Medline (NASDAQ:MDLN) Stock: Insider Private Ltd Gic Sells 2,088,987 Shares

Key Points

• Major shareholder Private Ltd Gic sold 2,088,987 Medline shares at an average of $35.05, worth approximately $73.2 million, reducing its position by 11.27% to 16.45 million shares.
• The sale was part of a broader series of disposals, including more than 7.18 million shares sold the same day and additional large transactions in early October and August.
• Medline shares fell 0.7% to $35.55, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $46.88.

Medline (NASDAQ:MDLN - Get Free Report) major shareholder Private Ltd Gic sold 2,088,987 shares of the business's stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $35.05, for a total value of $73,218,994.35. Following the completion of the sale, the insider directly owned 16,453,806 shares of the company's stock, valued at approximately $576,705,900.30. The trade was a 11.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Private Ltd Gic also recently made the following trade(s):

• On Tuesday, October 6th, Private Ltd Gic sold 7,183,013 shares of Medline stock. The shares were sold at an average price of $35.05, for a total transaction of $251,764,605.65.
• On Monday, October 5th, Private Ltd Gic sold 1,688,690 shares of Medline stock. The stock was sold at an average price of $35.78, for a total transaction of $60,421,328.20.
• On Friday, October 2nd, Private Ltd Gic sold 7,146,941 shares of Medline stock. The shares were sold at an average price of $34.33, for a total transaction of $245,354,484.53.
• On Friday, August 14th, Private Ltd Gic sold 100,000 shares of Medline stock. The shares were sold at an average price of $35.80, for a total transaction of $3,580,000.00.
• On Thursday, August 13th, Private Ltd Gic sold 1,500,000 shares of Medline stock. The stock was sold at an average price of $35.80, for a total transaction of $53,700,000.00.
• On Friday, August 7th, Private Ltd Gic sold 590,284 shares of Medline stock. The shares were sold at an average price of $35.58, for a total value of $21,002,304.72.
• On Thursday, August 6th, Private Ltd Gic sold 271,994 shares of Medline stock. The stock was sold at an average price of $35.33, for a total value of $9,609,548.02.
• On Wednesday, August 5th, Private Ltd Gic sold 1,976,618 shares of Medline stock. The stock was sold at an average price of $35.60, for a total value of $70,367,600.80.

Medline Stock Down 0.7%

Shares of NASDAQ MDLN traded down $0.25 during mid-day trading on Tuesday, reaching $35.55. 8,878,494 shares of the company traded hands, compared to its average volume of 9,394,258. The company's fifty day moving average is $35.11 and its two-hundred day moving average is $38.55. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33. Medline has a fifty-two week low of $31.49 and a fifty-two week high of $50.88. The stock has a market cap of $46.74 billion and a PE ratio of 45.00.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MDLN. GAMMA Investing LLC grew its position in Medline by 68.3% during the second quarter. GAMMA Investing LLC now owns 626 shares of the company's stock worth $25,000 after buying an additional 254 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Medline during the first quarter valued at approximately $30,000. NewEdge Advisors LLC raised its stake in shares of Medline by 100.0% in the second quarter. NewEdge Advisors LLC now owns 950 shares of the company's stock valued at $37,000 after purchasing an additional 475 shares in the last quarter. Allworth Financial LP lifted its position in Medline by 86.2% in the second quarter. Allworth Financial LP now owns 1,052 shares of the company's stock worth $41,000 after purchasing an additional 487 shares during the period. Finally, Whittier Trust Co. acquired a new stake in Medline during the first quarter worth $49,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on MDLN. BMO Capital Markets reiterated an "outperform" rating and issued a $47.00 target price on shares of Medline in a report on Thursday, August 6th. Evercore set a $39.00 price target on Medline in a research report on Thursday, August 6th. Citigroup raised Medline to a "strong-buy" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada decreased their target price on Medline from $53.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft set a $37.00 target price on Medline in a report on Thursday, August 6th. Two 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.88.

About Medline

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies, clinical products and equipment to hospitals, health systems, physician practices, long-term care facilities, surgery centers and other healthcare providers. Its offerings are designed to support patient care, surgical procedures, infection prevention and healthcare facility operations.

The company's product portfolio includes surgical instruments and supplies, exam gloves and protective apparel, wound care products, patient-care items, respiratory and monitoring equipment, laboratory supplies, durable medical equipment and products for environmental and facility management.

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