90,000 Shares in Medline $MDLN Purchased by Montaka Global Pty Ltd

Montaka Global Pty Ltd acquired a new position in shares of Medline (NASDAQ:MDLN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 90,000 shares of the company’s stock, valued at approximately $3,123,000. Medline accounts for approximately 1.2% of Montaka Global Pty Ltd’s portfolio, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDLN. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Medline by 233.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock worth $222,500,000 after acquiring an additional 3,500,000 shares during the period. Bessemer Group Inc. increased its stake in Medline by 39,404.0% in the first quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock valued at $155,929,000 after acquiring an additional 3,495,136 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Medline by 30,255.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,700,425 shares of the company’s stock valued at $94,353,000 after acquiring an additional 2,691,529 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Medline during the second quarter valued at approximately $40,430,000. Finally, Janus Henderson Group PLC raised its position in Medline by 8.4% during the first quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock valued at $506,546,000 after purchasing an additional 887,240 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MDLN shares. Zacks Research lowered Medline from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Citigroup boosted their price target on Medline from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Tigress Financial dropped their price objective on Medline from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Bank of America reduced their price objective on Medline from $53.00 to $46.00 in a research note on Thursday, August 6th. Finally, UBS Group lifted their target price on Medline from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Twenty-three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.08.

Insider Transactions at Medline

In related news, major shareholder Private Ltd Gic sold 2,570,999 shares of Medline stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $35.35, for a total transaction of $90,884,814.65. Following the sale, the insider directly owned 20,231,483 shares in the company, valued at $715,182,924.05. This trade represents a 11.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 7,948,676 shares of company stock valued at $281,805,137. 0.81% of the stock is owned by company insiders.

Medline Price Performance

Medline stock opened at $40.91 on Wednesday. The company has a current ratio of 4.04, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $53.78 billion and a PE ratio of 92.98. Medline has a 12 month low of $31.37 and a 12 month high of $50.88. The stock has a 50-day moving average price of $35.01 and a two-hundred day moving average price of $39.45.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.12. Medline had a return on equity of 8.21% and a net margin of 1.84%. The company had revenue of $7.86 billion for the quarter. Analysts expect that Medline will post 1.50 EPS for the current year.

About Medline

Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations. The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations. Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.