Medline (NASDAQ:MDLN) Major Shareholder Private Ltd Gic Sells 1,500,000 Shares of Stock

Key Points

• Major shareholder Private Ltd Gic sold 1.5 million Medline shares at an average price of $35.80, generating $53.7 million. The sale reduced its ownership by 6.15% to 22.9 million shares.
• Gic has made several additional Medline sales recently, including 100,000 shares on August 14 and 1.98 million shares on August 5, indicating continued substantial selling activity.
• Medline reported quarterly EPS of $0.50, beating the $0.32 consensus estimate, while shares traded at $34.88. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $47.42, although several firms recently lowered their targets.

Medline (NASDAQ:MDLN - Get Free Report) major shareholder Private Ltd Gic sold 1,500,000 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $35.80, for a total transaction of $53,700,000.00. Following the transaction, the insider directly owned 22,902,482 shares of the company's stock, valued at approximately $819,908,855.60. This represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Friday, August 14th, Private Ltd Gic sold 100,000 shares of Medline stock. The stock was sold at an average price of $35.80, for a total value of $3,580,000.00.
• On Friday, August 7th, Private Ltd Gic sold 590,284 shares of Medline stock. The stock was sold at an average price of $35.58, for a total transaction of $21,002,304.72.
• On Thursday, August 6th, Private Ltd Gic sold 271,994 shares of Medline stock. The shares were 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 transaction of $70,367,600.80.

Medline Price Performance

Shares of NASDAQ MDLN traded down $0.86 during trading on Monday, hitting $34.88. The company had a trading volume of 3,699,226 shares, compared to its average volume of 7,345,572. Medline has a 52 week low of $32.81 and a 52 week high of $50.88. The business's 50-day moving average is $38.30 and its 200 day moving average is $41.36. The company has a market cap of $45.86 billion and a P/E ratio of 44.15. 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 (NASDAQ:MDLN - Get Free Report) last released 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 firm had revenue of $7.68 billion during the quarter. Equities research analysts predict that Medline will post 1.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MDLN. Mass General Brigham Inc bought a new position in shares of Medline in the fourth quarter valued at approximately $1,104,000. WPG Advisers LLC acquired a new position in Medline in the 4th quarter valued at $38,000. Nadler Financial Group Inc. acquired a new position in Medline in the 4th quarter valued at $354,000. NBC Securities Inc. bought a new position in Medline in the 4th quarter worth $28,000. Finally, Vanguard Group Inc. acquired a new position in Medline during the 4th quarter worth $793,278,000.

Analysts Set New Price Targets

MDLN has been the topic of several research reports. TD Cowen dropped their price objective on shares of Medline from $53.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Robert W. Baird set a $42.00 price target on shares of Medline in a research note on Thursday, August 6th. Weiss Ratings upgraded Medline from a "sell (d)" rating to a "sell (d+)" rating in a research note 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 report on Thursday, May 14th. Finally, Royal Bank Of Canada reduced their price target on Medline from $53.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.42.

Medline Company 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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