Medline’s (MDLN) “Buy” Rating Reaffirmed at BTIG Research

Medline (NASDAQ:MDLN)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $55.00 target price on the stock. BTIG Research’s target price suggests a potential upside of 25.48% from the stock’s current price.

Several other analysts also recently weighed in on MDLN. Rothschild & Co Redburn set a $42.00 target price on Medline in a report on Monday, January 12th. JPMorgan Chase & Co. set a $55.00 price target on Medline in a research note on Wednesday, January 21st. Mizuho began coverage on Medline in a research report on Monday, January 12th. They set an “outperform” rating and a $48.00 price target on the stock. Robert W. Baird began coverage on Medline in a research note on Monday, January 12th. They issued an “outperform” rating and a $48.00 price objective for the company. Finally, Wolfe Research began coverage on Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $47.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Medline Trading Down 0.5%

Shares of NASDAQ:MDLN opened at $43.83 on Monday. Medline has a 12 month low of $34.89 and a 12 month high of $50.88. The stock’s fifty day moving average is $44.57.

Medline (NASDAQ:MDLN) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.01) earnings per share (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 the consensus estimate of $7.52 billion. Medline’s quarterly revenue was up 14.8% on a year-over-year basis.

Insider Buying and Selling

In related news, Director Andrew J. Mills purchased 2,586,206 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were purchased at an average price of $29.00 per share, with a total value of $74,999,974.00. Following the completion of 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 link. Also, 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 transaction, the insider owned 4,806,160 shares in the company, valued at $136,350,759.20. This trade represents a 55.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Hedge Funds Weigh In On Medline

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Carlyle Group Inc. purchased a new position in Medline during the 4th quarter worth $9,042,728,000. H&F Corporate Investors X Ltd. purchased a new stake in shares of Medline in the fourth quarter valued at about $4,179,591,000. Vanguard Group Inc. acquired a new position in shares of Medline during the fourth quarter worth about $793,278,000. Morgan Stanley purchased a new position in Medline during the fourth quarter worth about $636,807,000. Finally, Capital Research Global Investors acquired a new stake in Medline in the fourth quarter valued at about $620,937,000.

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.