Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Medline $MDLN

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Medline (NASDAQ:MDLN) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,500,000 shares of the company’s stock, valued at approximately $63,000,000.

Several other large investors also recently added to or reduced their stakes in MDLN. Sound Income Strategies LLC bought a new stake in shares of Medline during the 4th quarter worth $25,000. Entrust Financial LLC bought a new stake in shares of Medline during the 4th quarter worth $26,000. NBC Securities Inc. bought a new stake in shares of Medline during the 4th quarter worth $28,000. Global Retirement Partners LLC bought a new stake in shares of Medline during the 4th quarter worth $31,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Medline during the 4th quarter worth $36,000.

Insider Buying and Selling

In related news, insider Jessi L. Corcoran bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the purchase, the insider directly owned 5,000 shares in the company, valued at $170,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.81% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Leerink Partners set a $56.00 price objective on shares of Medline in a report on Wednesday, February 25th. BNP Paribas Exane decreased their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Medline in a report on Thursday, May 7th. Finally, Sanford C. Bernstein decreased their price objective on shares of Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

Medline Price Performance

NASDAQ:MDLN opened at $36.61 on Monday. The firm has a market cap of $48.09 billion and a PE ratio of 114.41. Medline has a one year low of $32.81 and a one year high of $50.88. The firm’s fifty day moving average is $40.76. 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 (NASDAQ:MDLN) last released its 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 company had revenue of $7.35 billion for the quarter. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Medline will post 1.51 EPS for the current year.

About Medline

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.