Employees Retirement System of Texas Makes New $1.82 Million Investment in Medline $MDLN

Employees Retirement System of Texas bought a new position in Medline (NASDAQ:MDLN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 43,326 shares of the company’s stock, valued at approximately $1,820,000.

Other hedge funds have also modified their holdings of the company. Mass General Brigham Inc acquired a new stake in shares of Medline in the fourth quarter worth approximately $1,104,000. Baillie Gifford & Co. acquired a new stake in shares of Medline in the fourth quarter worth approximately $437,236,000. UBS Group AG acquired a new stake in shares of Medline in the fourth quarter worth approximately $54,707,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Medline in the fourth quarter worth approximately $429,544,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Medline in the fourth quarter worth approximately $48,996,000.

Analyst Upgrades and Downgrades

MDLN has been the topic of several research analyst reports. Sanford C. Bernstein decreased their target price on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Tigress Financial raised 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. Deutsche Bank Aktiengesellschaft set a $42.00 target price on shares of Medline in a research report on Thursday, May 7th. BMO Capital Markets raised their price target on shares of Medline from $45.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Finally, Leerink Partners set a $56.00 price target on shares of Medline in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Medline presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.85.

Medline Stock Performance

MDLN opened at $35.84 on Thursday. The firm’s 50 day moving average price is $42.52. Medline has a 52-week low of $34.89 and a 52-week high of $50.88.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $7.35 billion for the quarter. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts predict that Medline will post 1.5 EPS for the current fiscal year.

About Medline

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.