Medline’s (NASDAQ:MDLN) Quiet Period Will Expire on January 26th

Medline’s (NASDAQ:MDLN) quiet period will expire on Monday, January 26th. Medline had issued 216,034,482 shares in its initial public offering on December 17th. The total size of the offering was $6,264,999,978 based on an initial share price of $29.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Rothschild & Co Redburn started coverage on Medline in a research report on Monday, January 12th. They set a “neutral” rating and a $42.00 price objective for the company. Piper Sandler assumed coverage on shares of Medline in a report on Monday, January 12th. They set an “overweight” rating and a $50.00 price target for the company. Leerink Partners initiated coverage on shares of Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $48.00 price objective on the stock. Citigroup initiated coverage on shares of Medline in a research report on Monday, January 12th. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Truist Financial initiated coverage on shares of Medline in a research note on Monday, January 12th. They set a “buy” rating and a $52.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.70.

Medline Trading Up 0.1%

Shares of NASDAQ:MDLN opened at $44.15 on Wednesday. Medline has a 12 month low of $34.89 and a 12 month high of $45.50.

Insider Activity

In other news, Director Charles N. Mills acquired 2,579,310 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was acquired at an average price of $29.00 per share, for a total transaction of $74,799,990.00. Following the completion of the acquisition, the director directly owned 2,441,379 shares in the company, valued at $70,799,991. This represents a -1,870.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew J. Mills bought 2,586,206 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were purchased at an average cost of $29.00 per share, for a total transaction of $74,999,974.00. Following the completion of the acquisition, the director owned 2,586,206 shares of the company’s stock, valued at $74,999,974. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Trading of Medline

A hedge fund recently bought a new stake in Medline stock. Perigon Wealth Management LLC purchased a new stake in Medline (NASDAQ:MDLN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,025 shares of the company’s stock, valued at approximately $211,000.

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.