Medline (NASDAQ:MDLN) Major Shareholder Sells $3,580,000.00 in Stock

Key Points

• Major shareholder Private Ltd Gic sold 100,000 Medline shares at $35.80 each, generating $3.58 million and reducing its position by 0.44% to 22.8 million shares.
• The sale followed additional disposals totaling more than $154 million earlier in August, indicating continued selling by the large shareholder.
• Medline recently beat quarterly EPS estimates, reporting $0.50 versus the $0.32 consensus on $7.68 billion in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $47.42, while the stock recently traded at $34.88.

Medline (NASDAQ:MDLN - Get Free Report) 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 transaction of $3,580,000.00. Following the completion of the transaction, the insider directly owned 22,802,482 shares of the company's stock, valued at $816,328,855.60. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 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 Thursday, August 13th, Private Ltd Gic sold 1,500,000 shares of Medline stock. The shares were sold at an average price of $35.80, for a total value 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 shares were sold at an average price of $35.60, for a total value of $70,367,600.80.

Medline Price Performance

NASDAQ:MDLN traded down $0.86 during trading hours on Monday, reaching $34.88. The company had a trading volume of 3,699,226 shares, compared to its average volume of 7,345,572. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $38.30 and a two-hundred day moving average of $41.36. Medline has a one year low of $32.81 and a one year high of $50.88. The firm has a market capitalization of $45.86 billion and a PE ratio of 44.15.

Medline (NASDAQ:MDLN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.18. The company had revenue of $7.68 billion for the quarter. Analysts forecast that Medline will post 1.51 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Medline by 68.3% during the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company's stock worth $25,000 after buying an additional 254 shares during the period. North Star Investment Management Corp. raised its position in shares of Medline by 60.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,362 shares of the company's stock valued at $61,000 after acquiring an additional 512 shares during the period. 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. Finally, Whipplewood Advisors LLC acquired a new position in Medline during the first quarter valued at approximately $30,000.

Analysts Set New Price Targets

MDLN has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Medline from $53.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 12th. Wells Fargo & Company reduced their target price on Medline from $45.00 to $34.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 11th. Tigress Financial decreased their price target on Medline from $62.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Evercore set a $39.00 price target on Medline in a report on Thursday, August 6th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $47.00 price objective on shares of Medline in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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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