Sculptor Capital LP Invests $21 Million in Medline $MDLN

Sculptor Capital LP purchased a new position in shares of Medline (NASDAQ:MDLN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 500,000 shares of the company’s stock, valued at approximately $21,000,000.

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new stake in shares of Medline in the 4th quarter valued at approximately $25,000. Entrust Financial LLC acquired a new stake in shares of Medline in the 4th quarter valued at approximately $26,000. NBC Securities Inc. acquired a new stake in shares of Medline in the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC acquired a new stake in shares of Medline in the 4th quarter valued at approximately $31,000. Finally, North Star Investment Management Corp. acquired a new stake in shares of Medline in the 4th quarter valued at approximately $36,000.

Insider Buying and Selling

In related news, insider Jessi L. Corcoran purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the purchase, the insider directly owned 5,000 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by company insiders.

Medline Stock Up 2.0%

MDLN stock opened at $37.33 on Tuesday. The firm has a market capitalization of $49.04 billion and a P/E ratio of 116.66. The company has a 50-day moving average of $40.62. Medline has a 52 week low of $32.81 and a 52 week high of $50.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41.

Medline (NASDAQ:MDLN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $7.35 billion during the quarter. Medline’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts anticipate that Medline will post 1.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MDLN has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on Medline from $45.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Royal Bank Of Canada increased their price objective on Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Barclays cut their price objective on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, June 1st. Weiss Ratings downgraded Medline from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, BTIG Research reissued a “buy” rating and issued a $55.00 price objective on shares of Medline in a 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.54.

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.