Mass General Brigham Inc Has $3.13 Million Stake in Medline $MDLN

Mass General Brigham Inc boosted its position in Medline (NASDAQ:MDLN) by 167.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 70,357 shares of the company’s stock after buying an additional 44,063 shares during the quarter. Medline comprises 0.7% of Mass General Brigham Inc’s investment portfolio, making the stock its 6th largest holding. Mass General Brigham Inc’s holdings in Medline were worth $3,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in shares of Medline during the fourth quarter worth $25,000. Entrust Financial LLC acquired a new stake in Medline in the fourth quarter worth $26,000. NBC Securities Inc. bought a new position in shares of Medline during the fourth quarter worth $28,000. Whipplewood Advisors LLC bought a new position in shares of Medline during the first quarter worth $30,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Medline in the 4th quarter valued at $31,000.

Insider Transactions at Medline

In other news, insider Jessi L. Corcoran bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $34.15 per share, with a total value of $170,750.00. Following the transaction, the insider owned 5,000 shares in the company, valued at $170,750. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider owned 23,899 shares in the company, valued at $878,766.23. The trade was a 80.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MDLN has been the topic of several research analyst reports. Citigroup dropped their price objective on Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. BNP Paribas Exane decreased their target price on Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Tigress Financial increased their price target on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Robert W. Baird decreased their price objective on Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Finally, Barclays lowered their target price on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

Medline Price Performance

Shares of NASDAQ MDLN opened at $38.66 on Wednesday. The company has a fifty day moving average price of $37.86 and a 200 day moving average price of $42.11. The firm has a market cap of $50.79 billion and a PE ratio of 120.81. 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 1-year low of $32.81 and a 1-year high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts predict that Medline will post 1.49 earnings per share for the current fiscal year.

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.