Medline (NASDAQ:MDLN) Given New $53.00 Price Target at JPMorgan Chase & Co.

Medline (NASDAQ:MDLN) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $50.00 to $53.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 23.60% from the stock’s current price.

A number of other equities analysts have also recently commented on MDLN. Rothschild & Co Redburn set a $42.00 price target on Medline in a report on Monday, January 12th. Mizuho started coverage on Medline in a research note on Monday, January 12th. They set an “outperform” rating and a $48.00 target price for the company. BTIG Research restated a “buy” rating and issued a $55.00 price target on shares of Medline in a research note on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of Medline in a research report on Monday, January 12th. They set a “hold” rating and a $40.00 price objective for the company. Finally, BNP Paribas Exane initiated coverage on shares of Medline in a report on Monday, January 12th. They issued a “neutral” rating and a $38.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Medline currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.62.

Medline Stock Down 1.2%

Shares of Medline stock traded down $0.53 on Tuesday, reaching $42.88. 3,956,693 shares of the company were exchanged, compared to its average volume of 4,659,042. Medline has a one year low of $34.89 and a one year high of $50.88. The firm’s 50-day moving average is $44.59.

Medline (NASDAQ:MDLN) last released its earnings results on Wednesday, February 25th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.25). The company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.52 billion. Medline’s revenue was up 14.8% compared to the same quarter last year.

Insider Transactions at Medline

In other news, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $28.37, for a total value of $172,727,085.27. Following the completion of the sale, the insider owned 4,806,160 shares of the company’s stock, valued at approximately $136,350,759.20. The trade was a 55.88% 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. Also, Director Charles N. Mills purchased 2,579,310 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average cost of $29.00 per share, for a total transaction of $74,799,990.00. Following the completion of the transaction, the director owned 2,441,379 shares of the company’s stock, valued at $70,799,991. This trade represents a -1,870.00% increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Investors Weigh In On Medline

A number of hedge funds and other institutional investors have recently made changes to their positions in MDLN. Sound Income Strategies LLC acquired a new stake in Medline during the fourth quarter worth approximately $25,000. Entrust Financial LLC bought a new stake in shares of Medline during the 4th quarter valued at $26,000. NBC Securities Inc. bought a new stake in shares of Medline during the 4th quarter valued at $28,000. Global Retirement Partners LLC acquired a new stake in shares of Medline during the 4th quarter worth $31,000. Finally, North Star Investment Management Corp. bought a new position in shares of Medline in the fourth quarter worth $36,000.

Medline Company Profile

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.