Wellington Management Group LLP Takes Position in Medline $MDLN

Wellington Management Group LLP acquired a new stake in Medline (NASDAQ:MDLN) in the 2nd quarter, Holdings Channel reports. The fund acquired 62,515 shares of the company’s stock, valued at approximately $2,466,000.

Several other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Medline by 68.3% during the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock valued at $25,000 after purchasing an additional 254 shares in the last quarter. Entrust Financial LLC acquired a new stake in shares of Medline during the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Medline during the first quarter valued at $30,000. Global Retirement Partners LLC acquired a new position in shares of Medline in the 4th quarter valued at $31,000. Finally, Whittier Trust Co. purchased a new position in Medline in the 1st quarter worth $49,000.

Insider Activity at Medline

In other news, major shareholder Private Ltd Gic sold 1,976,618 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $35.60, for a total transaction of $70,367,600.80. Following the sale, the insider owned 25,264,760 shares of the company’s stock, valued at $899,425,456. This trade represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the transaction, the insider directly owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 4,538,896 shares of company stock valued at $161,936,454. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on MDLN. Tigress Financial dropped their price target on Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Stifel Nicolaus decreased their target price on Medline from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 6th. William Blair reiterated an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. Barclays cut their price target on shares of Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, June 1st. Finally, Robert W. Baird set a $42.00 price objective on shares of Medline in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Medline has a consensus rating of “Moderate Buy” and an average target price of $47.42.

Medline Price Performance

Shares of MDLN opened at $32.39 on Friday. The business’s 50-day moving average is $37.35 and its two-hundred day moving average is $39.90. The company has a market capitalization of $42.58 billion and a P/E ratio of 41.00. Medline has a fifty-two week low of $32.29 and a fifty-two week high of $50.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.18. The company had revenue of $7.68 billion during the quarter. Research analysts predict that Medline will post 1.51 earnings per share for the current year.

Medline Company Profile

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies and clinical products. Its offerings include surgical and exam gloves, personal protective equipment, operating-room supplies, wound-care products, patient-care items, laboratory products, apparel, and durable medical equipment.

The company serves hospitals, health systems, ambulatory surgery centers, physicians’ offices, long-term-care facilities, home-health providers, and other healthcare organizations.