Medline (NASDAQ:MDLN) Stock Rating Reaffirmed as Buy by BTIG Research

Medline (NASDAQ:MDLN)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a research note issued to investors on Thursday, Benzinga reports. They currently have a $55.00 target price on the stock. BTIG Research‘s price objective would indicate a potential upside of 38.75% from the company’s previous close.

A number of other brokerages also recently weighed in on MDLN. Zacks Research downgraded Medline from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. UBS Group decreased their target price on Medline from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, September 25th. Bank of America dropped their price target on Medline from $53.00 to $46.00 in a research note on Thursday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $47.00 price target on shares of Medline in a report on Thursday, August 6th. Finally, TD Cowen reduced their price objective on shares of Medline from $53.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Twenty-three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.08.

Medline Stock Performance

MDLN stock traded down $0.12 during trading hours on Thursday, reaching $39.64. The stock had a trading volume of 8,997,280 shares, compared to its average volume of 8,541,800. The stock has a market capitalization of $52.12 billion and a PE ratio of 90.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61. The stock has a 50-day simple moving average of $34.78 and a 200 day simple moving average of $39.48. Medline has a fifty-two week low of $31.37 and a fifty-two week high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.12. The firm had revenue of $7.86 billion for the quarter. Analysts predict that Medline will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Private Ltd Gic sold 2,570,999 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $35.35, for a total value of $90,884,814.65. Following the completion of the sale, the insider owned 20,231,483 shares of the company’s stock, valued at approximately $715,182,924.05. The trade was a 11.28% 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. Over the last quarter, insiders sold 7,948,676 shares of company stock valued at $281,805,137. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Medline

Institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Medline by 233.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock worth $222,500,000 after purchasing an additional 3,500,000 shares during the period. Bessemer Group Inc. boosted its stake in shares of Medline by 39,404.0% in the first quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock valued at $155,929,000 after buying an additional 3,495,136 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Medline by 30,255.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,700,425 shares of the company’s stock valued at $94,353,000 after buying an additional 2,691,529 shares during the period. Bank of New York Mellon Corp acquired a new stake in Medline during the second quarter worth approximately $40,430,000. Finally, Janus Henderson Group PLC grew its position in Medline by 8.4% during the first quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock worth $506,546,000 after buying an additional 887,240 shares in the last quarter.

Key Medline News

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline reported Q3 EPS of $0.44, beating the $0.32 consensus estimate, with revenue of $7.86 billion. Shares gapped higher following the earnings report. Medline shares gap up following strong earnings
• Positive Sentiment: Analyst target increases add to the bullish outlook: UBS raised its target to $49 and maintained a Buy rating; Citi raised its target to $47 and kept Buy; and Leerink Partners lifted its target to $46 with an Outperform rating. UBS ratings Citi ratings Leerink Partners ratings
• Positive Sentiment: BTIG reaffirmed its Buy rating with a $55 target, while Barclays also assigned a Buy rating, adding to the favorable analyst sentiment. BTIG ratings Barclays rating
• Positive Sentiment: Medline plans price increases in 2027 to offset inflation, which could help protect revenue and profitability if customers accept the higher prices. Pricing plans and Q3 results

Medline Company Profile

Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations.

The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations.

Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.