Insider Selling: Medline (NASDAQ:MDLN) Major Shareholder Sells $60,421,328.20 in Stock

Medline (NASDAQ:MDLN) major shareholder Private Ltd Gic sold 1,688,690 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $35.78, for a total value of $60,421,328.20. Following the completion of the transaction, the insider directly owned 18,542,793 shares of the company’s stock, valued at approximately $663,461,133.54. The trade was a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more 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 Friday, October 2nd, Private Ltd Gic sold 2,570,999 shares of Medline stock. The shares were sold at an average price of $35.35, for a total value of $90,884,814.65.
• On Tuesday, October 6th, Private Ltd Gic sold 7,183,013 shares of Medline stock. The stock was sold at an average price of $35.05, for a total value of $251,764,605.65.
• On Tuesday, October 6th, Private Ltd Gic sold 2,088,987 shares of Medline stock. The shares were sold at an average price of $35.05, for a total transaction of $73,218,994.35.
• On Friday, October 2nd, Private Ltd Gic sold 7,146,941 shares of Medline stock. The stock was sold at an average price of $34.33, for a total transaction of $245,354,484.53.
• On Friday, August 14th, Private Ltd Gic sold 100,000 shares of Medline stock. The shares were sold at an average price of $35.80, for a total value of $3,580,000.00.
• On Thursday, August 13th, Private Ltd Gic sold 1,500,000 shares of Medline stock. The stock was sold at an average price of $35.80, for a total value of $53,700,000.00.
• On Friday, August 7th, Private Ltd Gic sold 590,284 shares of Medline stock. The stock was 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 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 transaction of $70,367,600.80.

Medline Trading Up 0.8%

Shares of NASDAQ:MDLN opened at $35.74 on Friday. The company’s 50-day moving average price is $34.95 and its two-hundred day moving average price is $38.44. Medline has a one year low of $31.49 and a one year high of $50.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61. The stock has a market capitalization of $46.99 billion and a PE ratio of 45.24.

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

Institutional Trading of Medline

A number of hedge funds have recently modified their holdings of the stock. Capital Research Global Investors bought a new stake in shares of Medline during the 4th quarter worth about $620,937,000. Janus Henderson Group PLC raised its holdings in Medline by 8.4% in the 1st quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock valued at $506,546,000 after acquiring an additional 887,240 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Medline by 233.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock valued at $222,500,000 after acquiring an additional 3,500,000 shares during the period. Artisan Partners Limited Partnership acquired a new stake in Medline during the fourth quarter worth approximately $192,847,000. Finally, Bessemer Group Inc. lifted its position in Medline by 39,404.0% during the first quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock worth $155,929,000 after acquiring an additional 3,495,136 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stifel Nicolaus lowered their price target on Medline from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. William Blair restated an “outperform” rating on shares of Medline in a report on Wednesday, September 23rd. Evercore set a $39.00 price target on shares of Medline in a research report on Thursday, August 6th. Citigroup upgraded shares of Medline to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Truist Financial lowered their price objective on shares of Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Medline has a consensus rating of “Moderate Buy” and a consensus target price of $46.88.

Medline Company Profile

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies, clinical products and equipment to hospitals, health systems, physician practices, long-term care facilities, surgery centers and other healthcare providers. Its offerings are designed to support patient care, surgical procedures, infection prevention and healthcare facility operations.

The company’s product portfolio includes surgical instruments and supplies, exam gloves and protective apparel, wound care products, patient-care items, respiratory and monitoring equipment, laboratory supplies, durable medical equipment and products for environmental and facility management.