Medline (NASDAQ:MDLN) Major Shareholder Private Ltd Gic Sells 100,000 Shares of Stock

Medline (NASDAQ:MDLN) major shareholder Private Ltd Gic sold 100,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $35.80, for a total transaction of $3,580,000.00. Following the completion of the transaction, the insider directly owned 22,802,482 shares of the company’s stock, valued at $816,328,855.60. This trade represents a 0.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Private Ltd Gic also recently made the following trade(s):

• On Thursday, August 13th, Private Ltd Gic sold 1,500,000 shares of Medline stock. The stock was sold at an average price of $35.80, for a total value of $53,700,000.00.
• On Friday, August 7th, Private Ltd Gic sold 590,284 shares of Medline stock. The stock was sold at an average price of $35.58, for a total value of $21,002,304.72.
• On Thursday, August 6th, Private Ltd Gic sold 271,994 shares of Medline stock. The shares were sold at an average price of $35.33, for a total value of $9,609,548.02.
• On Wednesday, August 5th, Private Ltd Gic sold 1,976,618 shares of Medline stock. The stock was sold at an average price of $35.60, for a total value of $70,367,600.80.

Medline Stock Down 2.4%

Shares of NASDAQ MDLN traded down $0.86 during mid-day trading on Monday, reaching $34.88. 3,699,226 shares of the company’s stock were exchanged, compared to its average volume of 7,345,572. The firm has a market capitalization of $45.86 billion and a price-to-earnings ratio of 44.15. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $38.30 and a 200 day simple moving average of $41.36. Medline has a twelve month low of $32.81 and a twelve month high of $50.88.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.18. The business had revenue of $7.68 billion during the quarter. As a group, equities analysts expect that Medline will post 1.51 EPS for the current fiscal year.

Institutional Trading of Medline

Several hedge funds and other institutional investors have recently bought and sold shares of MDLN. Mass General Brigham Inc acquired a new stake in Medline in the 4th quarter worth about $1,104,000. WPG Advisers LLC acquired a new position in shares of Medline during the 4th quarter worth approximately $38,000. Nadler Financial Group Inc. bought a new position in shares of Medline during the fourth quarter worth approximately $354,000. NBC Securities Inc. bought a new position in shares of Medline during the fourth quarter worth approximately $28,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Medline in the fourth quarter valued at approximately $793,278,000.

Analysts Set New Price Targets

Several brokerages have issued reports on MDLN. BMO Capital Markets reiterated an “outperform” rating and issued a $47.00 price target on shares of Medline in a research note on Thursday, August 6th. Truist Financial decreased their target price on shares of Medline from $56.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. BNP Paribas Exane lowered their target price on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. William Blair reaffirmed an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft set a $37.00 price target on shares of Medline in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.42.

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.