389,457 Shares in Medline $MDLN Purchased by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT purchased a new stake in shares of Medline (NASDAQ:MDLN) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 389,457 shares of the company’s stock, valued at approximately $17,331,000.

Several other hedge funds have also bought and sold shares of MDLN. Sound Income Strategies LLC acquired a new stake in shares of Medline during the 4th quarter worth approximately $25,000. Entrust Financial LLC acquired a new position in shares of Medline in the 4th quarter valued at $26,000. NBC Securities Inc. purchased a new stake in Medline during the fourth quarter worth $28,000. Whipplewood Advisors LLC purchased a new stake in Medline during the first quarter worth $30,000. Finally, Global Retirement Partners LLC acquired a new stake in Medline during the fourth quarter valued at $31,000.

Insider Activity

In other news, insider Jessi L. Corcoran acquired 5,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was bought at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the purchase, the insider owned 5,000 shares in the company, valued at approximately $170,750. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of the business’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 value of $3,677,000.00. Following the sale, the insider owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.81% of the company’s stock.

Medline Stock Performance

NASDAQ:MDLN opened at $38.75 on Friday. 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 stock has a market capitalization of $50.91 billion and a PE ratio of 121.09. Medline has a fifty-two week low of $32.81 and a fifty-two week high of $50.88. The company has a fifty day moving average of $37.79 and a two-hundred day moving average of $41.92.

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

Analyst Upgrades and Downgrades

MDLN has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Tigress Financial raised their target price on Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Citigroup cut their price target on Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Barclays reduced their price target on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, June 1st. Finally, Robert W. Baird dropped their price objective on Medline from $57.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Medline currently has an average rating of “Moderate Buy” and an average price target of $50.54.

Medline Company 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.