Medline (NASDAQ:MDLN) Major Shareholder Sells $53,700,000.00 in Stock

Medline (NASDAQ:MDLN) major shareholder Private Ltd Gic sold 1,500,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $35.80, for a total transaction of $53,700,000.00. Following the completion of the transaction, the insider owned 22,902,482 shares in the company, valued at approximately $819,908,855.60. This represents a 6.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more 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 transaction of $3,580,000.00.
• 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 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 transaction 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 value of $70,367,600.80.

Medline Price Performance

MDLN opened at $33.91 on Thursday. The stock has a fifty day moving average price of $38.23 and a 200 day moving average price of $41.14. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The stock has a market cap of $44.58 billion and a price-to-earnings ratio of 42.92.

Medline (NASDAQ:MDLN) last issued 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. Analysts forecast that Medline will post 1.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Medline

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Entrust Financial LLC bought a new stake in Medline during the fourth quarter worth approximately $26,000. GAMMA Investing LLC lifted its stake in shares of Medline by 68.3% in the second quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock worth $25,000 after buying an additional 254 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Medline in the fourth quarter worth $28,000. Whipplewood Advisors LLC bought a new stake in shares of Medline during the 1st quarter worth $30,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Medline during the 4th quarter worth $31,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MDLN. Wells Fargo & Company cut their price objective on shares of Medline from $45.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Stifel Nicolaus decreased their target price on shares of Medline from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Medline from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Sanford C. Bernstein cut their price target on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Medline in a research note on Friday, July 31st. Two equities research 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 issued a Sell rating to the company. According to MarketBeat, Medline currently has a consensus rating of “Moderate Buy” and an average price target of $47.42.

About Medline

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.