Royal Bank of Canada Has $798,000 Holdings in Medline $MDLN

Royal Bank of Canada lifted its position in Medline (NASDAQ:MDLN) by 1,180.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,950 shares of the company’s stock after buying an additional 16,548 shares during the quarter. Royal Bank of Canada’s holdings in Medline were worth $798,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MDLN. Carlyle Group Inc. acquired a new stake in Medline in the fourth quarter valued at $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new position in shares of Medline during the 4th quarter worth about $4,179,591,000. Vanguard Group Inc. acquired a new position in shares of Medline during the 4th quarter worth about $793,278,000. Morgan Stanley bought a new stake in shares of Medline in the 4th quarter valued at about $636,807,000. Finally, Capital Research Global Investors bought a new stake in shares of Medline in the 4th quarter valued at about $620,937,000.

Medline Stock Up 5.2%

Shares of MDLN opened at $34.26 on Friday. The firm has a market cap of $45.04 billion and a P/E ratio of 43.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33. Medline has a 52 week low of $32.49 and a 52 week high of $50.88. The firm’s 50-day simple moving average is $38.09 and its 200 day simple moving average is $41.01.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.18. The company had revenue of $7.68 billion for the quarter. On average, analysts forecast that Medline will post 1.51 earnings per share for the current year.

Insider Transactions at Medline

In related news, insider Douglas P. Golwas sold 100,000 shares of Medline 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 completion of the sale, the insider directly owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Private Ltd Gic sold 1,976,618 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $35.60, for a total value of $70,367,600.80. Following the completion of the sale, the insider owned 25,264,760 shares of the company’s stock, valued at $899,425,456. This trade represents a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 4,538,896 shares of company stock worth $161,936,454. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MDLN. Wells Fargo & Company lowered their price target on Medline from $45.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Royal Bank Of Canada cut their price objective on Medline from $53.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Citigroup upgraded Medline to a “strong-buy” rating in a research note on Wednesday, August 5th. Evercore set a $39.00 target price on Medline in a report on Thursday, August 6th. Finally, Truist Financial dropped their price target on Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Medline presently has an average rating of “Moderate Buy” and an average price target of $47.42.

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.