Medline (NASDAQ:MDLN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Medline (NASDAQ:MDLN) from a hold rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

Several other analysts have also recently weighed in on the stock. Mizuho reduced their price objective on shares of Medline from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Tigress Financial cut their target price on Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Barclays reduced their price target on Medline from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. UBS Group increased their price target on Medline from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Finally, Zacks Research downgraded Medline from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Twenty-three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

Medline Stock Up 2.7%

Shares of NASDAQ:MDLN opened at $40.71 on Friday. Medline has a 52-week low of $31.37 and a 52-week high of $50.88. The company has a market capitalization of $53.52 billion and a PE ratio of 33.35. 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 company has a fifty day moving average of $34.89 and a 200-day moving average of $39.47.

Medline (NASDAQ:MDLN) last released its quarterly earnings results 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. Medline had a return on equity of 8.22% and a net margin of 1.84%. The company had revenue of $7.86 billion for the quarter. On average, equities analysts predict that Medline will post 1.50 EPS for the current fiscal year.

Insider Transactions at Medline

In other Medline news, major shareholder Private Ltd Gic sold 2,570,999 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $35.35, for a total transaction of $90,884,814.65. Following the transaction, the insider directly owned 20,231,483 shares in the company, valued at approximately $715,182,924.05. This represents a 11.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 7,948,676 shares of company stock valued at $281,805,137 over the last quarter. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medline

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of Medline by 68.3% in the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock valued at $25,000 after buying an additional 254 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in Medline during the first quarter valued at approximately $30,000. Reyes Financial Architecture Inc. bought a new stake in Medline during the third quarter worth $30,000. NewEdge Advisors LLC boosted its holdings in shares of Medline by 100.0% in the 2nd quarter. NewEdge Advisors LLC now owns 950 shares of the company’s stock valued at $37,000 after purchasing an additional 475 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Medline by 86.2% in the 2nd quarter. Allworth Financial LP now owns 1,052 shares of the company’s stock valued at $41,000 after purchasing an additional 487 shares during the last quarter.

About Medline

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.