Eminence Capital LP Makes New Investment in Medline $MDLN

Eminence Capital LP acquired a new stake in Medline (NASDAQ:MDLN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,505,000 shares of the company’s stock, valued at approximately $63,210,000. Eminence Capital LP owned 0.11% of Medline at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Concentric Capital Strategies LP purchased a new stake in Medline in the 4th quarter valued at $1,268,000. Balyasny Asset Management L.P. purchased a new position in Medline during the 4th quarter worth $9,923,000. Armistice Capital LLC acquired a new position in Medline in the fourth quarter valued at $2,437,000. Freestone Grove Partners LP acquired a new position in Medline in the fourth quarter valued at $21,273,000. Finally, Viking Global Investors LP acquired a new stake in shares of Medline during the fourth quarter worth about $292,285,000.

Medline Trading Down 1.8%

MDLN stock opened at $36.42 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. The firm has a market cap of $47.84 billion and a P/E ratio of 113.81. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. The firm’s 50 day moving average is $40.33.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $7.35 billion for the quarter. Medline’s quarterly revenue was up 10.7% on a year-over-year basis. Sell-side analysts forecast that Medline will post 1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDLN has been the topic of several recent research reports. Morgan Stanley boosted their price target on Medline from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. BTIG Research reiterated a “buy” rating and issued a $55.00 target price on shares of Medline in a research note on Thursday, May 7th. Wells Fargo & Company upped their price target on Medline from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. William Blair reaffirmed an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.54.

Insider Buying and Selling at Medline

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider directly owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. The trade was a 80.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price 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 trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. 0.81% of the stock is owned by corporate insiders.

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.