16,495 Shares in Medline $MDLN Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC bought a new position in Medline (NASDAQ:MDLN) in the 3rd quarter, Holdings Channel.com reports. The fund bought 16,495 shares of the company’s stock, valued at approximately $572,000.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Medline by 68.3% during the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock worth $25,000 after purchasing an additional 254 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Medline by 100.0% in the 2nd quarter. NewEdge Advisors LLC now owns 950 shares of the company’s stock valued at $37,000 after purchasing an additional 475 shares during the last quarter. Allworth Financial LP boosted its holdings in Medline by 86.2% in the second quarter. Allworth Financial LP now owns 1,052 shares of the company’s stock worth $41,000 after purchasing an additional 487 shares in the last quarter. North Star Investment Management Corp. boosted its holdings in Medline by 60.2% in the first quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock worth $61,000 after purchasing an additional 512 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Medline in the first quarter worth $30,000.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Evercore set a $39.00 target price on Medline in a report on Thursday, August 6th. Citigroup upgraded Medline to a “strong-buy” rating in a research note on Wednesday, August 5th. Barclays lowered their price objective on Medline from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 9th. Robert W. Baird set a $42.00 price objective on Medline in a research note on Thursday, August 6th. Finally, BTIG Research reissued a “buy” rating and issued a $55.00 price objective on shares of Medline in a research note on Thursday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Medline presently has a consensus rating of “Moderate Buy” and an average target price of $46.81.

Medline Trading Down 2.1%

Shares of MDLN opened at $35.19 on Tuesday. 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 one year low of $31.49 and a one year high of $50.88. The company’s fifty day moving average price is $34.74 and its 200 day moving average price is $38.11.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. The firm had revenue of $7.68 billion for the quarter. Equities research analysts anticipate that Medline will post 1.51 earnings per share for the current year.

Insider Buying and Selling at Medline

In related news, major shareholder Private Ltd Gic sold 2,570,999 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $35.35, for a total transaction of $90,884,814.65. Following the completion of the transaction, the insider owned 20,231,483 shares of the company’s stock, valued at approximately $715,182,924.05. The trade was a 11.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 10,787,572 shares of company stock worth $382,784,591. 0.81% of the stock is currently owned by insiders.

About Medline

Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.

Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.