ABN Amro Investment Solutions Buys New Shares in Medline $MDLN

ABN Amro Investment Solutions bought a new position in Medline (NASDAQ:MDLN) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 13,607 shares of the company’s stock, valued at approximately $606,000.

Several other hedge funds have also added to or reduced their stakes in MDLN. Sound Income Strategies LLC bought a new position in shares of Medline during the fourth quarter valued at about $25,000. Entrust Financial LLC bought a new position in Medline during the 4th quarter valued at approximately $26,000. NBC Securities Inc. purchased a new stake in Medline in the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new stake in Medline in the 1st quarter worth approximately $30,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Medline in the 4th quarter worth approximately $31,000.

Medline Trading Up 3.0%

NASDAQ:MDLN opened at $38.75 on Friday. The firm has a market capitalization of $50.91 billion and a P/E ratio of 121.09. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. Medline has a one year low of $32.81 and a one year high of $50.88. The company’s 50-day simple moving average is $37.79 and its 200 day simple moving average is $41.92.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MDLN shares. Robert W. Baird reduced their target price on Medline from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Sanford C. Bernstein cut their price target on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft set a $42.00 price objective on shares of Medline in a research report on Thursday, May 7th. William Blair reaffirmed an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. Finally, Tigress Financial lifted their target price on shares of Medline from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.54.

Insiders Place Their Bets

In related news, insider Jessi L. Corcoran purchased 5,000 shares of the stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $34.15 per share, with a total value of $170,750.00. Following the transaction, the insider directly owned 5,000 shares in the company, valued at $170,750. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 23,899 shares in the company, valued at approximately $878,766.23. The trade was a 80.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.81% of the company’s stock.

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.