Medline (NASDAQ:MDLN) Given Average Rating of “Moderate Buy” by Analysts

Medline (NASDAQ:MDLN) has been given an average recommendation of “Moderate Buy” by the twenty-nine ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twenty-one have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $47.4231.

Several brokerages recently issued reports on MDLN. William Blair reissued an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Sanford C. Bernstein decreased their price target on shares of Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. JPMorgan Chase & Co. dropped their price objective on shares of Medline from $53.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, August 12th. BTIG Research reissued a “buy” rating and set a $55.00 price objective on shares of Medline in a research report on Friday, July 31st. Finally, Wells Fargo & Company decreased their target price on Medline from $45.00 to $34.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th.

Medline Trading Up 1.3%

Shares of MDLN stock opened at $34.70 on Tuesday. Medline has a fifty-two week low of $32.49 and a fifty-two week high of $50.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33. The stock has a 50 day simple moving average of $38.04 and a two-hundred day simple moving average of $40.91. The company has a market cap of $45.62 billion and a P/E ratio of 43.92.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.32 by $0.18. The company had revenue of $7.68 billion for the quarter. Research analysts forecast that Medline will post 1.51 earnings per share for the current year.

Insider Buying and Selling at Medline

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of the firm’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 sale, the insider owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Private Ltd Gic sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.80, for a total value of $3,580,000.00. Following the sale, the insider owned 22,802,482 shares of the company’s stock, valued at approximately $816,328,855.60. This represents a 0.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 4,538,896 shares of company stock valued at $161,936,454. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Carlyle Group Inc. acquired a new position in shares of Medline during the fourth quarter valued at about $9,042,728,000. H&F Corporate Investors X Ltd. bought a new stake in shares of Medline during the fourth quarter worth about $4,179,591,000. California State Teachers Retirement System raised its holdings in shares of Medline by 128,629.5% in the 2nd quarter. California State Teachers Retirement System now owns 22,873,938 shares of the company’s stock worth $902,148,000 after acquiring an additional 22,856,169 shares during the last quarter. Vanguard Group Inc. bought a new position in Medline in the 4th quarter valued at about $793,278,000. Finally, Morgan Stanley bought a new position in Medline in the 4th quarter valued at about $636,807,000.

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.