Medline (NASDAQ:MDLN) Hits New 12-Month High – Still a Buy?

Medline (NASDAQ:MDLN)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $47.68 and last traded at $47.33, with a volume of 155406 shares traded. The stock had previously closed at $46.20.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Sanford C. Bernstein began coverage on Medline in a research note on Monday, January 12th. They issued an “outperform” rating and a $49.00 price objective on the stock. Wall Street Zen upgraded Medline to a “hold” rating in a research note on Saturday, January 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Medline in a research report on Monday, January 12th. They set a “hold” rating and a $40.00 target price for the company. BNP Paribas Exane initiated coverage on Medline in a research report on Monday, January 12th. They set a “neutral” rating and a $38.00 price target on the stock. Finally, JPMorgan Chase & Co. set a $55.00 price objective on Medline in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Medline has an average rating of “Moderate Buy” and a consensus price target of $47.92.

Medline Trading Up 2.4%

Insiders Place Their Bets

In related news, Director Andrew J. Mills acquired 2,586,206 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was acquired at an average price of $29.00 per share, with a total value of $74,999,974.00. Following the acquisition, the director directly owned 2,586,206 shares in the company, valued at $74,999,974. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the company’s 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 completion of the sale, the insider owned 4,806,160 shares in the company, valued at $136,350,759.20. The trade was a 55.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in shares of Medline in the 4th quarter worth $25,000. Entrust Financial LLC purchased a new stake in shares of Medline in the fourth quarter valued at about $26,000. NBC Securities Inc. acquired a new stake in Medline during the fourth quarter worth about $28,000. North Star Investment Management Corp. purchased a new position in Medline during the fourth quarter worth about $36,000. Finally, WPG Advisers LLC purchased a new position in Medline during the fourth quarter worth about $38,000.

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.