Monashee Investment Management LLC Makes New $12.60 Million Investment in Medline $MDLN

Monashee Investment Management LLC bought a new stake in Medline (NASDAQ:MDLN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 300,000 shares of the company’s stock, valued at approximately $12,600,000. Medline comprises approximately 7.1% of Monashee Investment Management LLC’s portfolio, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nuveen LLC bought a new stake in shares of Medline in the 4th quarter valued at about $64,902,000. Picton Mahoney Asset Management bought a new stake in shares of Medline in the 4th quarter valued at about $1,050,000. LPL Financial LLC bought a new stake in shares of Medline in the 4th quarter valued at about $1,109,000. Franklin Resources Inc. bought a new stake in shares of Medline in the 4th quarter valued at about $1,403,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Medline in the 4th quarter valued at about $56,707,000.

Analysts Set New Price Targets

MDLN has been the subject of a number of recent research reports. Tigress Financial boosted their target price on Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft set a $42.00 target price on Medline in a research note on Thursday, May 7th. Sanford C. Bernstein lowered their target price on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. BMO Capital Markets boosted their target price on Medline from $45.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Finally, William Blair reissued an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two 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 presently has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Medline Price Performance

MDLN opened at $37.13 on Friday. The firm’s 50 day simple moving average is $40.91. The company has a market cap of $48.78 billion and a price-to-earnings ratio of 116.03. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. Medline has a one year low of $32.81 and a one year high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. Medline’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that Medline will post 1.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Medline news, insider Jessi L. Corcoran purchased 5,000 shares of the stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $34.15 per share, with a total value of $170,750.00. Following the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at approximately $170,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is owned by insiders.

Medline 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.