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

Shares of Medline (NASDAQ:MDLN) have received a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $50.50.

Several equities analysts recently commented on the company. Jefferies Financial Group assumed coverage on Medline in a research report on Monday, January 12th. They set a “buy” rating and a $50.00 target price for the company. Piper Sandler initiated coverage on Medline in a research report on Monday, January 12th. They set an “overweight” rating and a $50.00 price target for the company. Bank of America began coverage on shares of Medline in a research report on Monday, January 12th. They issued a “buy” rating and a $50.00 price objective on the stock. Citigroup lifted their target price on shares of Medline from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Mizuho began coverage on shares of Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $48.00 price target on the stock.

Insider Activity at Medline

In other news, Director Andrew J. Mills bought 2,586,206 shares of Medline stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average price of $29.00 per share, with a total value of $74,999,974.00. Following the completion of the purchase, the director directly owned 2,586,206 shares in the company, valued at $74,999,974. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of Medline stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $28.37, for a total value of $172,727,085.27. Following the sale, the insider directly owned 4,806,160 shares of the company’s stock, valued at approximately $136,350,759.20. This trade represents a 55.88% decrease in their position. The disclosure for this sale is available in the SEC filing.

Institutional Investors Weigh In On Medline

A number of hedge funds have recently made changes to their positions in the business. Kera Capital Partners Inc. purchased a new stake in Medline during the fourth quarter valued at about $3,785,000. Virtu Financial LLC purchased a new position in shares of Medline in the fourth quarter worth about $2,243,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Medline in the 4th quarter valued at about $298,461,000. Invesco Ltd. purchased a new stake in Medline during the 4th quarter valued at about $106,239,000. Finally, Corient Private Wealth LLC bought a new position in Medline during the 4th quarter worth approximately $229,000.

Medline Price Performance

Shares of NASDAQ:MDLN opened at $45.85 on Tuesday. The company’s 50 day moving average price is $44.59. Medline has a 12 month low of $34.89 and a 12 month high of $50.88.

Medline (NASDAQ:MDLN) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.25). The business had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.52 billion. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year.

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.