Medline (NASDAQ:MDLN) Major Shareholder Sells $3,580,000.00 in Stock

Medline (NASDAQ:MDLN) major shareholder Private Ltd Gic sold 100,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.80, for a total transaction of $3,580,000.00. Following the sale, the insider directly owned 22,802,482 shares in the company, valued at approximately $816,328,855.60. This represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Private Ltd Gic also recently made the following trade(s):

• On Thursday, August 13th, Private Ltd Gic sold 1,500,000 shares of Medline stock. The shares were sold at an average price of $35.80, for a total transaction of $53,700,000.00.
• On Friday, August 7th, Private Ltd Gic sold 590,284 shares of Medline stock. The shares were 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 value of $9,609,548.02.
• On Wednesday, August 5th, Private Ltd Gic sold 1,976,618 shares of Medline stock. The stock was sold at an average price of $35.60, for a total value of $70,367,600.80.

Medline Stock Performance

NASDAQ MDLN opened at $33.91 on Thursday. The business has a 50 day moving average price of $38.23 and a 200 day moving average price of $41.14. The company has a market capitalization of $44.58 billion and a P/E ratio of 42.92. Medline has a 1-year low of $32.81 and a 1-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.

Medline (NASDAQ:MDLN) last posted its earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. The firm had revenue of $7.68 billion for the quarter. Sell-side analysts expect that Medline will post 1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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. Entrust Financial LLC purchased a new stake in shares of Medline during the fourth quarter worth about $26,000. NBC Securities Inc. acquired a new position in shares of Medline in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC purchased a new position in shares of Medline during the first quarter valued at approximately $30,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Medline during the fourth quarter valued at approximately $31,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MDLN shares. William Blair reiterated an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. Robert W. Baird set a $42.00 target price on shares of Medline in a research report on Thursday, August 6th. Barclays reduced 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. Royal Bank Of Canada dropped their price objective on shares of Medline from $53.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Finally, BNP Paribas Exane cut their price objective on Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.42.

Medline Company 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.