Leerink Partners Forecasts Strong Price Appreciation for Medline (NASDAQ:MDLN) Stock

Medline (NASDAQ:MDLN) had its target price increased by stock analysts at Leerink Partners from $43.00 to $46.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners‘s price target points to a potential upside of 16.04% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Medline in a research report on Thursday, August 6th. William Blair reissued an “outperform” rating on shares of Medline in a report on Wednesday, September 23rd. UBS Group lowered their price objective on Medline from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, September 25th. Evercore set a $39.00 target price on Medline in a report on Thursday, August 6th. Finally, Zacks Research cut Medline from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Twenty-three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.08.

Medline Stock Down 0.3%

MDLN traded down $0.12 during trading on Thursday, hitting $39.64. 8,997,280 shares of the company’s stock were exchanged, compared to its average volume of 8,541,800. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $34.78 and its two-hundred day moving average is $39.48. Medline has a fifty-two week low of $31.37 and a fifty-two week high of $50.88. The stock has a market cap of $52.12 billion and a P/E ratio of 90.09.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.12. The business had revenue of $7.86 billion for the quarter. As a group, equities analysts expect that Medline will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Medline

In other news, major shareholder Private Ltd Gic sold 2,570,999 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $35.35, for a total value of $90,884,814.65. Following the transaction, the insider owned 20,231,483 shares in the company, valued at $715,182,924.05. The trade was a 11.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 7,948,676 shares of company stock worth $281,805,137. 0.81% of the stock is owned by company insiders.

Institutional Trading of Medline

Institutional investors and hedge funds have recently modified their holdings of the business. Mass General Brigham Inc increased its position in shares of Medline by 167.6% during the 1st quarter. Mass General Brigham Inc now owns 70,357 shares of the company’s stock valued at $3,131,000 after purchasing an additional 44,063 shares during the last quarter. Andra AP fonden bought a new position in Medline during the second quarter valued at about $3,180,000. Baird Financial Group Inc. grew its position in Medline by 1,151.5% during the second quarter. Baird Financial Group Inc. now owns 379,944 shares of the company’s stock valued at $14,985,000 after buying an additional 349,584 shares during the period. Cetera Investment Advisers increased its holdings in Medline by 128.4% during the first quarter. Cetera Investment Advisers now owns 52,088 shares of the company’s stock worth $2,318,000 after buying an additional 29,282 shares during the last quarter. Finally, WINTON GROUP Ltd increased its holdings in Medline by 1,263.0% during the second quarter. WINTON GROUP Ltd now owns 367,057 shares of the company’s stock worth $14,477,000 after buying an additional 340,127 shares during the last quarter.

More 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

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.