Bessemer Group Inc. Grows Stake in Medline $MDLN

Bessemer Group Inc. lifted its position in shares of Medline (NASDAQ:MDLN) by 39,404.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,504,006 shares of the company’s stock after buying an additional 3,495,136 shares during the quarter. Bessemer Group Inc. owned approximately 0.27% of Medline worth $155,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Carlyle Group Inc. purchased a new stake in shares of Medline in the fourth quarter valued at $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new position in shares of Medline in the 4th quarter valued at $4,179,591,000. Vanguard Group Inc. purchased a new stake in Medline during the fourth quarter valued at about $793,278,000. Morgan Stanley purchased a new stake in shares of Medline during the 4th quarter worth about $636,807,000. Finally, Capital Research Global Investors acquired a new stake in shares of Medline in the fourth quarter worth $620,937,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDLN. Barclays lowered their target price on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, June 1st. William Blair restated an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on Medline in a research note on Thursday, May 7th. Sanford C. Bernstein decreased their target price on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Finally, BTIG Research reissued a “buy” rating and set a $55.00 price target on shares of Medline in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.54.

Insider Transactions at Medline

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the transaction, the insider 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 legal filing with the SEC, which is available through this hyperlink. Also, insider Jessi L. Corcoran acquired 5,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at $170,750. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.81% of the company’s stock.

Medline Stock Up 4.2%

Shares of Medline stock opened at $41.11 on Friday. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. The firm has a market capitalization of $54.01 billion and a PE ratio of 128.47. The stock’s fifty day moving average is $37.79 and its 200-day moving average is $42.06.

Medline (NASDAQ:MDLN) last announced its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. The firm’s revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Medline will post 1.49 earnings per share for the current year.

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.