Affiliates associated with Blackstone Inc., a major global investment firm, reported selling a substantial block of Medline Inc. (NASDAQ:MDLN) Class A Common Stock. The transactions, which were formally filed on May 28, 2026, encompassed several reporting entities and collectively valued the sold shares at approximately $1.22 billion.
On that date, multiple Blackstone-affiliated groups disposed of a combined total of 33,317,824 shares of Medline Class A Common Stock. These specific shares were sold to underwriters at a rate of $36.5375 per share. This selling price was calculated based on the public offering price of $37.00 per share, after deducting underwriting discounts and commissions totaling $0.4625 per share, as part of a secondary offering process.
This significant divestiture took place when Medline's stock was trading close to its 52-week low of $34.89$. Furthermore, the company had recently faced downward revisions in earnings estimates from 14 analysts, adding context to the market movement.
Despite the selling pressure and the current weakness reflected by the stock price, one analysis indicated that Medline might be undervalued at its present trading levels. This assessment was made even though the company maintained a relatively high Price-to-Earnings (P/E) ratio of 33.76.
Details of Corporate Transactions and Holdings
The reporting parties responsible for these sales included several entities, such as BX Mozart ML-2 Holdco L.P., BX Mozart ML-1 Holdco L.P., Mozart Aggregator II UNLV Holdco L.P., and Mozart Aggregator UNLV Holdco L.P., among others. These groups are all considered indirect beneficial owners of Medline Class A Common Stock, positioning them as ten percent owners of the issuer.
Following these reported sales, the remaining indirectly held shares by these specific entities were noted to vary. For instance, BX Mozart ML-2 Holdco L.P. retained a holding of 89,537,913 shares, while BX Mozart ML-1 Holdco L.P. was recorded as holding 10,185 shares.
Secondary Corporate Actions
In a separate transaction occurring on the same date, Mozart Aggregator II LP executed an in-kind distribution involving 438,214 shares of Class A Common Stock. This particular distribution was made to one of its investors and certain affiliated entities and did not involve any cash exchange.
Recent Company Developments
Medline Inc. has also been involved in other notable corporate activities recently. The company successfully finalized a secondary offering that included 72.6 million shares of Class A common stock, with each share priced at $37 per share. This specific offering was jointly conducted by stockholders affiliated with Blackstone Inc., Hellman & Friedman LLC, and the Abu Dhabi Investment Authority.
The demand for this particular secondary offering was reported as being notably high, resulting in the shares being multiple times oversubscribed. Beyond financing activities, Medline Canada secured its first Prime Vendor agreement outside of the United States through Mohawk Medbuy, a healthcare procurement organization located in Ontario. This new agreement mandates that Medline Canada manage warehouse and supply chain logistics for selected hospitals.
Market Analyst Adjustments
In parallel developments, Barclays adjusted its price target for Medline. The bank lowered its previous estimate from $50 down to $45$. Despite this reduction, Barclays maintained an Overweight rating on the stock, attributing its decision to ongoing concerns regarding material input costs, particularly citing the potential impact of oil price volatility.
These combined events illustrate a period of significant strategic activity and varied market evaluation for Medline, encompassing large-scale capital transactions, operational agreements, and analyst revisions.