Squarepoint Ops LLC Takes $79.80 Million Position in Medline $MDLN

Squarepoint Ops LLC bought a new stake in Medline (NASDAQ:MDLN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,900,000 shares of the company’s stock, valued at approximately $79,800,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new position in Medline during the fourth quarter valued at about $31,500,000. MML Investors Services LLC bought a new position in Medline during the fourth quarter valued at about $1,499,000. Maven Securities LTD bought a new position in Medline during the fourth quarter valued at about $4,200,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Medline during the fourth quarter valued at about $63,000,000. Finally, Brown Advisory Inc. bought a new position in Medline during the fourth quarter valued at about $5,112,000.

Medline Stock Up 2.0%

Shares of NASDAQ:MDLN opened at $37.33 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. The company has a market capitalization of $49.04 billion and a price-to-earnings ratio of 116.66. Medline has a twelve month low of $32.81 and a twelve month high of $50.88. The stock’s 50-day simple moving average is $40.62.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping 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. Analysts anticipate that Medline will post 1.51 earnings per share for the current fiscal year.

Insider Activity at Medline

In other news, insider Jessi L. Corcoran acquired 5,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the transaction, the insider owned 5,000 shares of the company’s stock, valued at $170,750. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MDLN shares. Citigroup reduced their price target on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada increased their price target on shares of Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. BNP Paribas Exane reduced their price target on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Evercore restated an “outperform” rating and set a $55.00 price target on shares of Medline in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company increased their price target on shares of Medline from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.54.

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.