Maryland State Retirement & Pension System Purchases Shares of 16,437 Medline $MDLN

Maryland State Retirement & Pension System acquired a new stake in shares of Medline (NASDAQ:MDLN) during the first quarter, Holdings Channel reports. The fund acquired 16,437 shares of the company’s stock, valued at approximately $731,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in Medline during the 1st quarter valued at about $387,000. Teachers Retirement System of The State of Kentucky increased its stake in Medline by 138.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 157,200 shares of the company’s stock worth $6,995,000 after purchasing an additional 91,300 shares during the period. Fifth Third Bancorp lifted its position in Medline by 1,337.8% in the first quarter. Fifth Third Bancorp now owns 7,189 shares of the company’s stock valued at $320,000 after purchasing an additional 6,689 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Medline in the first quarter valued at approximately $335,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Medline during the first quarter valued at approximately $30,000.

Insider Buying and Selling

In other news, insider Douglas P. Golwas sold 100,000 shares of the business’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 completion of the transaction, the insider owned 23,899 shares in the company, valued at $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 price of $34.15 per share, for a total transaction of $170,750.00. Following the transaction, the insider owned 5,000 shares of the company’s stock, valued at $170,750. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.81% of the stock is owned by insiders.

Medline Stock Up 4.2%

Shares of Medline stock opened at $41.11 on Friday. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The firm has a market cap of $54.01 billion and a price-to-earnings ratio of 128.47. The company has a 50-day moving average of $37.79 and a 200 day moving average of $42.06. 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 posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Medline will post 1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. 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. Citigroup cut their price target on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Sanford C. Bernstein decreased their price objective on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. William Blair reaffirmed an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Finally, BTIG Research reiterated a “buy” rating and set a $55.00 target price on shares of Medline in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.54.

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.