Verition Fund Management LLC Purchases New Holdings in Medline $MDLN

Verition Fund Management LLC acquired a new position in shares of Medline (NASDAQ:MDLN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 750,000 shares of the company’s stock, valued at approximately $31,500,000. Verition Fund Management LLC owned approximately 0.06% of Medline at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sound Income Strategies LLC purchased a new stake in shares of Medline in the 4th quarter worth approximately $25,000. Entrust Financial LLC purchased a new stake in shares of Medline in the fourth quarter worth $26,000. NBC Securities Inc. bought a new position in shares of Medline during the fourth quarter valued at $28,000. Global Retirement Partners LLC purchased a new position in shares of Medline in the 4th quarter worth about $31,000. Finally, North Star Investment Management Corp. bought a new position in Medline in the 4th quarter worth about $36,000.

Medline Stock Performance

Shares of MDLN stock opened at $36.61 on Monday. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. Medline has a 12 month low of $32.81 and a 12 month high of $50.88. The stock has a market capitalization of $48.09 billion and a PE ratio of 114.41. The firm’s 50 day simple moving average is $40.76.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that Medline will post 1.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MDLN. UBS Group lifted their target price on shares of Medline from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. BMO Capital Markets boosted their price objective on shares of Medline from $45.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft set a $42.00 target price on Medline in a research note on Thursday, May 7th. Weiss Ratings cut Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Finally, Tigress Financial increased their price objective on Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.54.

Insider Activity at Medline

In related news, insider Jessi L. Corcoran acquired 5,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the purchase, the insider directly owned 5,000 shares of the company’s stock, valued at $170,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.81% of the stock is owned by company insiders.

Medline Profile

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.