Seven Grand Managers LLC Takes $48.30 Million Position in Medline $MDLN

Seven Grand Managers LLC acquired a new stake in Medline (NASDAQ:MDLN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,150,000 shares of the company’s stock, valued at approximately $48,300,000. Medline accounts for about 3.7% of Seven Grand Managers LLC’s investment portfolio, making the stock its 3rd biggest position. Seven Grand Managers LLC owned approximately 0.09% of Medline as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC bought a new position in shares of Medline in the fourth quarter valued at about $123,923,000. Employees Retirement System of Texas bought a new position in shares of Medline in the fourth quarter valued at about $1,820,000. Harbour Investments Inc. bought a new position in shares of Medline in the fourth quarter valued at about $62,000. Global Retirement Partners LLC bought a new position in shares of Medline in the fourth quarter valued at about $31,000. Finally, HighTower Advisors LLC bought a new position in shares of Medline in the fourth quarter valued at about $536,000.

Wall Street Analysts Forecast Growth

MDLN has been the topic of several research analyst reports. Morgan Stanley increased their price objective on shares of Medline from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. BNP Paribas Exane dropped their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Tigress Financial upped their price target on shares of Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. BTIG Research restated a “buy” rating and issued a $55.00 price target on shares of Medline in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft set a $42.00 price target on shares of Medline in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.85.

Medline Stock Performance

MDLN stock opened at $35.84 on Thursday. The company has a 50-day simple moving average of $42.52. Medline has a 52 week low of $34.89 and a 52 week high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that Medline will post 1.5 EPS for the current year.

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.