Private Ltd Gic Sells 590,284 Shares of Medline (NASDAQ:MDLN) Stock

Key Points

• Major shareholder Private Ltd Gic sold 590,284 Medline shares at an average price of $35.58, totaling approximately $21.0 million. The sale reduced its position by 2.36% to 24.4 million shares; it also sold roughly $80.0 million of additional shares over the prior two trading days.
• Medline reported quarterly earnings of $0.50 per share, beating analysts’ $0.32 estimate, on revenue of $7.68 billion. The stock recently traded at $33.93, near its 12-month low of $32.81, with a market capitalization of $44.58 billion.
• Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $47.96, although TD Cowen and Stifel lowered their targets to $45.

Medline (NASDAQ:MDLN - Get Free Report) major shareholder Private Ltd Gic sold 590,284 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $35.58, for a total value of $21,002,304.72. Following the transaction, the insider owned 24,402,482 shares in the company, valued at $868,240,309.56. This represents a 2.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

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

• 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 transaction 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 Stock Performance

Medline stock traded up $0.12 during mid-day trading on Tuesday, reaching $33.93. 1,848,100 shares of the company were exchanged, compared to its average volume of 7,357,333. The firm has a market cap of $44.58 billion and a PE ratio of 105.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33. The firm's 50-day simple moving average is $38.18 and its two-hundred day simple moving average is $41.63. Medline has a twelve month low of $32.81 and a twelve month high of $50.88.

Medline (NASDAQ:MDLN - Get Free Report) last issued its quarterly 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 for the quarter. Equities analysts predict that Medline will post 1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDLN. Carlyle Group Inc. acquired a new stake in Medline during the fourth quarter worth about $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new stake in Medline during the 4th quarter worth approximately $4,179,591,000. Vanguard Group Inc. purchased a new position in Medline in the fourth quarter valued at approximately $793,278,000. Morgan Stanley acquired a new position in Medline during the fourth quarter valued at approximately $636,807,000. Finally, Capital Research Global Investors acquired a new position in Medline during the fourth quarter valued at approximately $620,937,000.

Analysts Set New Price Targets

Several brokerages have weighed in on MDLN. TD Cowen lowered their target price on shares of Medline from $53.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday. Citigroup raised Medline to a "strong-buy" rating in a research note on Wednesday, August 5th. William Blair restated an "outperform" rating on shares of Medline in a report on Thursday, June 4th. Stifel Nicolaus reduced their price objective on Medline from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, Evercore set a $39.00 target price on Medline in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $47.96.

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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