Sculptor Capital LP Sells 270,000 Shares of Medline $MDLN

Sculptor Capital LP lowered its stake in shares of Medline (NASDAQ:MDLN) by 54.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,000 shares of the company’s stock after selling 270,000 shares during the quarter. Sculptor Capital LP’s holdings in Medline were worth $10,235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MDLN. Weiss Asset Management LP lifted its stake in Medline by 1.3% during the 1st quarter. Weiss Asset Management LP now owns 213,178 shares of the company’s stock valued at $9,486,000 after acquiring an additional 2,787 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Medline in the 1st quarter worth $423,000. Bradley Foster & Sargent Inc. CT bought a new stake in shares of Medline in the 1st quarter worth $17,331,000. Unisphere Establishment raised its holdings in shares of Medline by 50.5% in the first quarter. Unisphere Establishment now owns 2,482,500 shares of the company’s stock valued at $110,471,000 after purchasing an additional 832,500 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Medline by 233.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock valued at $222,500,000 after purchasing an additional 3,500,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MDLN shares. 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. BTIG Research reiterated a “buy” rating and issued a $55.00 price objective on shares of Medline in a research note on Thursday, May 7th. 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 report on Wednesday, May 13th. William Blair reaffirmed an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Finally, Weiss Ratings downgraded Medline from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. One research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

Insider Activity

In other Medline news, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the purchase, the insider directly owned 5,000 shares of the company’s stock, valued at approximately $170,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas P. Golwas sold 100,000 shares of the company’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 transaction of $3,677,000.00. Following the sale, 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 SEC filing for this sale provides additional information. 0.81% of the stock is owned by corporate insiders.

Medline Price Performance

Medline stock opened at $38.75 on Monday. The business’s 50 day simple moving average is $37.79 and its 200 day simple moving average is $41.94. Medline has a 12 month low of $32.81 and a 12 month high of $50.88. The company has a market cap of $50.91 billion and a price-to-earnings ratio of 121.09. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65.

Medline (NASDAQ:MDLN) last released its earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. Sell-side analysts forecast that Medline will post 1.49 EPS for the current year.

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.