91,330 Shares in Medline $MDLN Acquired by CI Investments Inc.

CI Investments Inc. bought a new position in Medline (NASDAQ:MDLN) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 91,330 shares of the company’s stock, valued at approximately $4,064,000.

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

Insider Buying and Selling at Medline

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the transaction, the insider owned 23,899 shares in the company, valued at $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessi L. Corcoran purchased 5,000 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 5,000 shares of the company’s stock, valued at approximately $170,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MDLN has been the topic of several research reports. Barclays dropped their price target on shares of Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, June 1st. Tigress Financial lifted their price objective on shares of Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Citigroup dropped their target price on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. BTIG Research reissued a “buy” rating and set a $55.00 target price on shares of Medline in a research note on Thursday, May 7th. Finally, Weiss Ratings cut shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Medline currently has an average rating of “Moderate Buy” and a consensus price target of $50.54.

Medline Stock Up 1.2%

Shares of Medline stock opened at $37.63 on Friday. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The company has a market cap of $49.43 billion and a P/E ratio of 117.59. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $37.74 and a 200 day moving average price of $41.95.

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