Medline (NASDAQ:MDLN) Sets New 52-Week High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MDLN. Rothschild & Co Redburn set a $42.00 target price on Medline in a research note on Monday, January 12th. TD Cowen assumed coverage on shares of Medline in a report on Monday, January 12th. They set a “buy” rating on the stock. Tigress Financial initiated coverage on shares of Medline in a research report on Thursday. They set a “buy” rating and a $55.00 target price for the company. Zacks Research raised shares of Medline to a “hold” rating in a research report on Tuesday, January 13th. Finally, Morgan Stanley started coverage on shares of Medline in a report on Sunday, January 11th. They issued an “overweight” rating and a $48.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.92.

Medline Trading Up 2.4%

Insider Activity at Medline

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

Institutional Trading of Medline

Large investors have recently modified their holdings of the company. Sound Income Strategies LLC purchased a new position in shares of Medline in the fourth quarter worth $25,000. Entrust Financial LLC bought a new stake in Medline in the 4th quarter valued at $26,000. NBC Securities Inc. purchased a new stake in Medline in the 4th quarter worth $28,000. North Star Investment Management Corp. bought a new position in shares of Medline during the 4th quarter valued at about $36,000. Finally, WPG Advisers LLC purchased a new position in shares of Medline during the fourth quarter valued at about $38,000.

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.