Seven Grand Managers LLC Makes New Investment in Medline $MDLN

Seven Grand Managers LLC acquired a new position in shares of Medline (NASDAQ:MDLN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,150,000 shares of the company’s stock, valued at approximately $48,300,000. Medline makes up approximately 3.7% of Seven Grand Managers LLC’s holdings, making the stock its 3rd largest position.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new stake in Medline during the fourth quarter worth about $793,278,000. Baillie Gifford & Co. acquired a new stake in Medline during the fourth quarter worth about $437,236,000. Massachusetts Financial Services Co. MA acquired a new stake in Medline during the fourth quarter worth about $429,544,000. Geode Capital Management LLC acquired a new stake in Medline during the fourth quarter worth about $123,923,000. Finally, UBS Group AG acquired a new stake in Medline during the fourth quarter worth about $54,707,000.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Medline from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings cut shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Evercore reissued an “outperform” rating and issued a $55.00 target price on shares of Medline in a report on Wednesday, February 25th. BTIG Research reissued a “buy” rating and issued a $55.00 target price on shares of Medline in a report on Thursday, May 7th. Finally, Royal Bank Of Canada increased their target price on shares of Medline from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.85.

Medline Price Performance

MDLN stock opened at $35.84 on Thursday. Medline has a 12 month low of $34.89 and a 12 month high of $50.88. The business has a 50-day moving average of $42.52.

Medline (NASDAQ:MDLN) last posted its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $7.35 billion during the quarter. Medline’s revenue was up 10.7% on a year-over-year basis. As a group, analysts anticipate that Medline will post 1.5 EPS 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.