First Trust Advisors LP Increases Stake in Medline $MDLN

First Trust Advisors LP increased its stake in Medline (NASDAQ:MDLN) by 18.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,394,409 shares of the company’s stock after purchasing an additional 218,188 shares during the period. First Trust Advisors LP owned 0.11% of Medline worth $62,051,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. ABN Amro Investment Solutions acquired a new position in Medline during the 1st quarter valued at approximately $606,000. PNC Financial Services Group Inc. acquired a new stake in shares of Medline during the first quarter worth $93,000. Parallel Advisors LLC grew its holdings in shares of Medline by 1,073.3% during the first quarter. Parallel Advisors LLC now owns 5,280 shares of the company’s stock valued at $235,000 after buying an additional 4,830 shares during the last quarter. Kera Capital Partners Inc. increased its position in shares of Medline by 3.9% in the 1st quarter. Kera Capital Partners Inc. now owns 89,021 shares of the company’s stock valued at $3,961,000 after acquiring an additional 3,379 shares during the period. Finally, Assetmark Inc. acquired a new position in shares of Medline in the 1st quarter valued at $62,000.

Analyst Ratings Changes

A number of brokerages have commented on MDLN. Sanford C. Bernstein lowered their price target on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. William Blair reissued an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Tigress Financial raised their price objective on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded Medline from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Finally, BTIG Research reiterated a “buy” rating and issued a $55.00 target price on shares of Medline in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Medline currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.54.

Medline Trading Up 3.0%

NASDAQ MDLN opened at $38.75 on Friday. The company has a market capitalization of $50.91 billion and a PE ratio of 121.09. The company has a fifty day moving average of $37.79 and a 200 day moving average of $41.92. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. 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 (NASDAQ:MDLN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts forecast that Medline will post 1.49 earnings per share for the current year.

Insider Buying and Selling

In other Medline news, 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessi L. Corcoran bought 5,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the insider owned 5,000 shares in the company, valued at approximately $170,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 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.