Fjarde AP Fonden Fourth Swedish National Pension Fund Takes $1.89 Million Position in Medline $MDLN

Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in Medline (NASDAQ:MDLN) during the fourth quarter, Holdings Channel reports. The institutional investor bought 45,000 shares of the company’s stock, valued at approximately $1,890,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new position in Medline in the 4th quarter valued at $25,000. Entrust Financial LLC purchased a new position in Medline in the 4th quarter valued at $26,000. NBC Securities Inc. purchased a new position in Medline in the 4th quarter valued at $28,000. Global Retirement Partners LLC purchased a new position in Medline in the 4th quarter valued at $31,000. Finally, North Star Investment Management Corp. purchased a new position in Medline in the 4th quarter valued at $36,000.

Medline Price Performance

Shares of MDLN stock opened at $36.01 on Wednesday. The company has a 50-day moving average price of $41.18. Medline has a twelve month low of $32.81 and a twelve month high of $50.88. 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 (NASDAQ:MDLN) last announced its earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. Medline’s quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts predict that Medline will post 1.51 earnings per share for the current year.

Insider Activity at Medline

In related news, insider Jessi L. Corcoran acquired 5,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $34.15 per share, with a total value of $170,750.00. Following the purchase, the insider directly owned 5,000 shares in the company, valued at $170,750. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MDLN shares. JPMorgan Chase & Co. lifted their price objective on shares of Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada lifted their price objective on shares of Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. BNP Paribas Exane lowered their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. BMO Capital Markets lifted their price objective on shares of Medline from $45.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Finally, BTIG Research reiterated a “buy” rating and issued a $55.00 price objective on shares of Medline in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.54.

Key Stories Impacting Medline

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline completed a major debt refinancing, including new senior secured notes and a new term loan facility, which should reduce near-term funding uncertainty and support liquidity. Medline shares rise as investors digest recent refinancing and large secondary offering
• Positive Sentiment: Investors may also be responding favorably to the fact that the large 72.6 million-share secondary offering was sold by existing shareholders, meaning it was not a primary dilution event for the company itself. Medline shares rise as investors digest recent refinancing and large secondary offering
• Positive Sentiment: Recent insider buying, including a purchase by Principal Accounting Officer Jessi L. Corcoran, may be helping sentiment by signaling internal confidence. MarketBeat MDLN news
• Neutral Sentiment: Medline presented at the Goldman Sachs 47th Annual Global Healthcare Conference, which may have helped keep attention on the company but did not include a clear new catalyst in the provided details. Medline conference transcript
• Neutral Sentiment: Medline is also expanding its manufacturing footprint in Slovakia, a longer-term growth initiative that is supportive but not an immediate stock-moving event. Medline expands manufacturing footprint in Slovakia
• Negative Sentiment: Ongoing securities-fraud investigation headlines could weigh on shares by raising legal and disclosure-risk concerns, even if no wrongdoing has been proven. Securities fraud investigation announced
• Negative Sentiment: Analyst commentary has turned a bit more cautious, with Barclays recently trimming its price target to $45 from $50 due to margin-pressure concerns. Medline analyst coverage article

Medline Profile

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.