Medline (NASDAQ:MDLN) Shares Down 5.3% – Time to Sell?

Medline (NASDAQ:MDLN) shares were down 5.3% on Friday . The stock traded as low as $35.07 and last traded at $35.15. Approximately 1,245,103 shares were traded during trading, a decline of 82% from the average daily volume of 7,063,966 shares. The stock had previously closed at $37.13.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MDLN shares. Stifel Nicolaus set a $55.00 price target on Medline in a report on Wednesday, February 25th. William Blair reissued an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Wells Fargo & Company boosted their price target on Medline from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Morgan Stanley increased their target price on shares of Medline from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Finally, UBS Group boosted their price target on shares of Medline from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Medline has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

Medline Stock Down 2.4%

The firm has a market cap of $47.60 billion and a PE ratio of 112.87. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. The firm’s 50 day moving average is $40.91.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts anticipate that Medline will post 1.51 earnings per share for the current year.

Insider Activity at Medline

In other news, insider Jessi L. Corcoran bought 5,000 shares of the stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $34.15 per share, with a total value of $170,750.00. Following the completion of the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at $170,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Medline

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Perigon Wealth Management LLC acquired a new stake in Medline in the fourth quarter valued at $211,000. SteelPeak Wealth LLC acquired a new stake in Medline during the 4th quarter worth approximately $441,000. Sound Income Strategies LLC purchased a new stake in Medline during the fourth quarter valued at about $25,000. Massachusetts Financial Services Co. MA purchased a new stake in Medline in the fourth quarter worth $429,544,000. Finally, Baillie Gifford & Co. bought a new stake in Medline in the 4th quarter worth approximately $437,236,000.

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.