Vanguard Group Inc. Buys New Shares in Medline $MDLN

Vanguard Group Inc. bought a new stake in Medline (NASDAQ:MDLN) in the fourth quarter, HoldingsChannel reports. The fund bought 18,887,568 shares of the company’s stock, valued at approximately $793,278,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Baillie Gifford & Co. bought a new position in Medline in the fourth quarter valued at $437,236,000. Massachusetts Financial Services Co. MA bought a new position in Medline in the fourth quarter valued at $429,544,000. Mass General Brigham Inc bought a new position in Medline in the fourth quarter valued at $1,104,000. SteelPeak Wealth LLC bought a new position in Medline in the fourth quarter valued at $441,000. Finally, Nadler Financial Group Inc. bought a new position in Medline in the fourth quarter valued at $354,000.

Medline Stock Up 0.6%

Shares of MDLN stock opened at $44.75 on Friday. The company has a fifty day moving average price of $44.81. Medline has a one year low of $34.89 and a one year high of $50.88.

Medline (NASDAQ:MDLN) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.25). The business had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.52 billion. The firm’s revenue was up 14.8% on a year-over-year basis. As a group, equities research analysts predict that Medline will post 1.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDLN has been the subject of a number of analyst reports. Robert W. Baird began coverage on shares of Medline in a research report on Monday, January 12th. They issued an “outperform” rating and a $48.00 target price for the company. TD Cowen began coverage on shares of Medline in a research note on Monday, January 12th. They issued a “buy” rating for the company. Citigroup began coverage on shares of Medline in a research note on Wednesday, March 11th. They issued a “buy” rating and a $60.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, March 10th. Finally, Piper Sandler began coverage on shares of Medline in a research note on Monday, January 12th. They issued an “overweight” rating and a $50.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.62.

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.