Healthcare of Ontario Pension Plan Trust Fund Buys 3,500,000 Shares of Medline $MDLN

Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Medline (NASDAQ:MDLN) by 233.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,000,000 shares of the company’s stock after acquiring an additional 3,500,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Medline were worth $222,500,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MDLN. Sound Income Strategies LLC acquired a new stake in Medline in the 4th quarter worth approximately $25,000. Entrust Financial LLC bought a new stake in Medline during the fourth quarter worth approximately $26,000. NBC Securities Inc. acquired a new position in Medline during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new position in Medline during the first quarter valued at approximately $30,000. Finally, Global Retirement Partners LLC bought a new position in shares of Medline in the fourth quarter valued at approximately $31,000.

Insider Transactions at Medline

In related news, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction dated 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 sale, the insider directly owned 23,899 shares of the company’s stock, valued at $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessi L. Corcoran purchased 5,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the purchase, the insider directly 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MDLN. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Medline in a report on Thursday, May 7th. Weiss Ratings downgraded shares of Medline from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Tigress Financial boosted their target price on shares of Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. BNP Paribas Exane decreased their price target 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. Finally, Citigroup lowered their price target on Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.54.

Medline Trading Up 3.0%

Shares of MDLN stock opened at $38.75 on Friday. The firm has a market capitalization of $50.91 billion and a P/E ratio of 121.09. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The firm’s fifty day simple moving average is $37.79 and its 200 day simple moving average is $41.92. 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 issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $7.35 billion during the quarter. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that Medline will post 1.49 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.