Teachers Retirement System of The State of Kentucky Has $7 Million Stock Holdings in Medline $MDLN

Teachers Retirement System of The State of Kentucky increased its stake in Medline (NASDAQ:MDLN) by 138.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,200 shares of the company’s stock after acquiring an additional 91,300 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Medline were worth $6,995,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MDLN. Mass General Brigham Inc acquired a new position in shares of Medline in the 4th quarter worth approximately $1,104,000. Baillie Gifford & Co. acquired a new stake in shares of Medline during the fourth quarter worth $437,236,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Medline during the fourth quarter worth $429,544,000. UBS Group AG bought a new position in Medline during the fourth quarter worth $54,707,000. Finally, Pictet Asset Management Holding SA acquired a new position in Medline in the fourth quarter valued at $48,996,000.

Insider Transactions at Medline

In related news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This represents a 80.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessi L. Corcoran purchased 5,000 shares of the business’s stock in a transaction on 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 acquisition, the insider owned 5,000 shares of the company’s stock, valued at approximately $170,750. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.81% of the company’s stock.

Medline Trading Down 1.1%

NASDAQ:MDLN opened at $40.58 on Tuesday. Medline has a 12 month low of $32.81 and a 12 month high of $50.88. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $53.31 billion and a price-to-earnings ratio of 126.81. The firm has a fifty day simple moving average of $37.99 and a two-hundred day simple moving average of $42.15.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings cut shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Robert W. Baird lowered their price objective on Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on Medline in a research note on Thursday, May 7th. BNP Paribas Exane decreased their target price on Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Finally, William Blair reiterated an “outperform” rating on shares of Medline in a report on Thursday, June 4th. 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’s stock. According to MarketBeat.com, Medline has an average rating of “Moderate Buy” and an average price target of $50.54.

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.