Douglas Golwas Sells 100,000 Shares of Medline (NASDAQ:MDLN) Stock

Medline (NASDAQ:MDLN) insider Douglas Golwas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the transaction, the insider directly owned 23,899 shares of the company’s stock, valued at $878,766.23. The trade was a 80.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Medline Stock Down 1.3%

Shares of NASDAQ:MDLN opened at $35.94 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. Medline has a 52-week low of $32.81 and a 52-week high of $50.88. The firm has a fifty day moving average of $40.19. The stock has a market capitalization of $47.21 billion and a P/E ratio of 112.31.

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

Wall Street Analyst Weigh In

MDLN has been the subject of a number of analyst reports. BTIG Research reissued a “buy” rating and issued a $55.00 price objective on shares of Medline in a research report on Thursday, May 7th. Leerink Partners set a $56.00 target price on shares of Medline in a research report on Wednesday, February 25th. Tigress Financial lifted their target price on shares of Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. William Blair reiterated an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Finally, Barclays reduced their price target on Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, June 1st. 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 issued a Sell rating to the company. According to MarketBeat, Medline has a consensus rating of “Moderate Buy” and an average price target of $50.54.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MDLN. Perigon Wealth Management LLC acquired a new stake in shares of Medline in the fourth quarter worth approximately $211,000. SteelPeak Wealth LLC acquired a new position in Medline during the fourth quarter worth approximately $441,000. Sound Income Strategies LLC purchased a new position in Medline during the fourth quarter worth approximately $25,000. Massachusetts Financial Services Co. MA purchased a new position in Medline during the fourth quarter worth approximately $429,544,000. Finally, Baillie Gifford & Co. acquired a new position in shares of Medline in the 4th quarter valued at $437,236,000.

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.