Medline (NASDAQ:MDLN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Medline (NASDAQ:MDLN) have received an average rating of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $50.50.

A number of equities analysts have issued reports on MDLN shares. Barclays began coverage on Medline in a research note on Monday, January 12th. They set an “overweight” rating and a $50.00 price target for the company. JPMorgan Chase & Co. set a $55.00 target price on Medline in a research report on Wednesday, January 21st. Zacks Research raised Medline to a “hold” rating in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medline in a report on Monday, January 12th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, Royal Bank Of Canada raised their price target on shares of Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th.

Insider Transactions at Medline

In related 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 transaction, the insider directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles N. Mills acquired 2,579,310 shares of the stock in a transaction on Thursday, December 18th. The stock was bought at an average cost of $29.00 per share, for a total transaction of $74,799,990.00. Following the transaction, the director owned 2,441,379 shares of the company’s stock, valued at approximately $70,799,991. This trade represents a -1,870.00% increase in their position. The SEC filing for this purchase provides additional information.

Hedge Funds Weigh In On Medline

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

Medline Stock Performance

MDLN opened at $45.85 on Tuesday. Medline has a 1-year low of $34.89 and a 1-year high of $50.88. The business’s fifty day simple moving average is $44.59.

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

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.