MFF Capital Investments Ltd Makes New $3.47 Million Investment in Medline $MDLN

MFF Capital Investments Ltd acquired a new stake in shares of Medline (NASDAQ:MDLN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,000 shares of the company’s stock, valued at approximately $3,470,000. Medline accounts for about 0.2% of MFF Capital Investments Ltd’s holdings, making the stock its 22nd biggest position.

A number of other hedge funds have also recently modified their holdings of the business. Janus Henderson Group PLC grew its position in shares of Medline by 8.4% in the 1st quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock worth $506,546,000 after buying an additional 887,240 shares during the period. Banque Pictet & Cie SA increased its stake in shares of Medline by 2.0% in the 3rd quarter. Banque Pictet & Cie SA now owns 7,455,089 shares of the company’s stock worth $258,692,000 after acquiring an additional 142,939 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Medline by 233.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock worth $222,500,000 after acquiring an additional 3,500,000 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Medline by 39,404.0% in the 1st quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock worth $155,929,000 after acquiring an additional 3,495,136 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Medline by 30,255.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,700,425 shares of the company’s stock valued at $94,353,000 after acquiring an additional 2,691,529 shares during the period.

Medline Price Performance

Shares of MDLN opened at $40.91 on Wednesday. The company has a market capitalization of $53.78 billion and a P/E ratio of 92.98. The company has a quick ratio of 2.51, a current ratio of 4.04 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $35.01 and a 200 day moving average of $39.45. Medline has a twelve month low of $31.37 and a twelve month high of $50.88.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, November 4th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.12. The business had revenue of $7.86 billion during the quarter. Medline had a return on equity of 8.21% and a net margin of 1.84%. As a group, equities research analysts anticipate that Medline will post 1.50 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Private Ltd Gic sold 2,570,999 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $35.35, for a total transaction of $90,884,814.65. Following the completion of the sale, the insider owned 20,231,483 shares of the company’s stock, valued at $715,182,924.05. The trade was a 11.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 7,948,676 shares of company stock valued at $281,805,137 over the last quarter. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MDLN. Truist Financial dropped their price objective on shares of Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Medline from a “hold” rating to a “buy” rating in a report on Saturday. Tigress Financial decreased their target price on shares of Medline from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Zacks Research lowered shares of Medline from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Finally, Robert W. Baird set a $42.00 price target on Medline in a research report on Thursday, August 6th. Twenty-three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.08.

Medline Profile

Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations. The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations. Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.