WINTON GROUP Ltd Boosts Stock Position in Medline $MDLN

WINTON GROUP Ltd increased its stake in shares of Medline (NASDAQ:MDLN) by 1,263.0% in the 2nd quarter, Holdings Channel reports. The firm owned 367,057 shares of the company’s stock after purchasing an additional 340,127 shares during the period. WINTON GROUP Ltd’s holdings in Medline were worth $14,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Medline by 68.3% during the second quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock worth $25,000 after acquiring an additional 254 shares during the last quarter. Entrust Financial LLC purchased a new stake in Medline in the 4th quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Medline in the 1st quarter valued at approximately $30,000. Global Retirement Partners LLC purchased a new position in shares of Medline during the fourth quarter worth $31,000. Finally, NewEdge Advisors LLC boosted its holdings in Medline by 100.0% during the 2nd quarter. NewEdge Advisors LLC now owns 950 shares of the company’s stock valued at $37,000 after acquiring an additional 475 shares during the period.

Medline Stock Down 1.8%

MDLN opened at $34.05 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61. The stock has a market capitalization of $44.77 billion and a price-to-earnings ratio of 43.10. Medline has a 12 month low of $32.49 and a 12 month high of $50.88. The business has a 50-day moving average of $37.57 and a two-hundred day moving average of $40.02.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MDLN shares. Weiss Ratings raised Medline from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Wells Fargo & Company cut 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. Robert W. Baird set a $42.00 target price on shares of Medline in a report on Thursday, August 6th. BTIG Research reaffirmed a “buy” rating and set a $55.00 price target on shares of Medline in a report on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft set a $37.00 price objective on Medline in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.42.

Insider Buying and Selling

In other Medline news, major shareholder Private Ltd Gic sold 1,976,618 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $35.60, for a total transaction of $70,367,600.80. Following the completion of the transaction, the insider directly owned 25,264,760 shares of the company’s stock, valued at $899,425,456. This trade represents a 7.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Golwas sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider owned 23,899 shares of the company’s stock, valued at $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 4,538,896 shares of company stock worth $161,936,454. 0.81% of the stock is currently owned by corporate insiders.

Medline Profile

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies and clinical products. Its offerings include surgical and exam gloves, personal protective equipment, operating-room supplies, wound-care products, patient-care items, laboratory products, apparel, and durable medical equipment.

The company serves hospitals, health systems, ambulatory surgery centers, physicians’ offices, long-term-care facilities, home-health providers, and other healthcare organizations.