CTC Alternative Strategies Ltd. Buys Shares of 23,541 Medline $MDLN

CTC Alternative Strategies Ltd. bought a new stake in Medline (NASDAQ:MDLN) during the 1st quarter, HoldingsChannel.com reports. The firm bought 23,541 shares of the company’s stock, valued at approximately $1,048,000. Medline comprises approximately 2.4% of CTC Alternative Strategies Ltd.’s holdings, making the stock its 9th biggest holding.

Several other large investors have also recently made changes to their positions in the company. North Star Investment Management Corp. raised its stake in Medline by 60.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock valued at $61,000 after purchasing an additional 512 shares during the last quarter. Sound Income Strategies LLC purchased a new position in Medline in the 4th quarter valued at $25,000. Entrust Financial LLC acquired a new stake in Medline during the 4th quarter worth $26,000. NBC Securities Inc. purchased a new stake in shares of Medline during the fourth quarter worth $28,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Medline during the first quarter worth $30,000.

Medline Stock Performance

NASDAQ:MDLN opened at $39.28 on Friday. The company’s 50-day moving average is $38.09 and its two-hundred day moving average is $41.91. Medline has a 1-year low of $32.81 and a 1-year high of $50.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. The firm has a market capitalization of $51.60 billion and a price-to-earnings ratio of 122.75.

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

Analysts Set New Price Targets

MDLN has been the topic of several research reports. BNP Paribas Exane decreased their price target on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on shares of Medline in a research note on Thursday, May 7th. Citigroup decreased their target price on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Barclays lowered their target price on Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, June 1st. Finally, Sanford C. Bernstein dropped their price target on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.54.

Insider Buying and Selling

In other Medline news, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction on Friday, June 5th. The shares were bought at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at $170,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction 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. This represents a 80.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.81% of the company’s stock.

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.