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

Shares of Medline (NASDAQ:MDLN) have earned a consensus rating of “Moderate Buy” from the twenty-nine analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $46.88.

Several research firms have commented on MDLN. Wells Fargo & Company lowered their target price on shares of Medline from $45.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. TD Cowen reduced their price target on shares of Medline from $53.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, August 10th. BTIG Research reiterated a “buy” rating and set a $55.00 price objective on shares of Medline in a research note on Thursday, August 27th. Tigress Financial dropped their target price on Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Finally, Truist Financial dropped their target price on Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, August 6th.

Insider Activity at Medline

In other news, major shareholder Private Ltd Gic sold 100,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $35.80, for a total value of $3,580,000.00. Following the completion of the sale, the insider owned 22,802,482 shares in the company, valued at $816,328,855.60. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 4,438,896 shares of company stock valued at $158,259,454. 0.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Medline

Several hedge funds and other institutional investors have recently bought and sold shares of MDLN. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Medline by 20.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 12,705 shares of the company’s stock worth $501,000 after buying an additional 2,149 shares during the period. Andra AP fonden acquired a new stake in shares of Medline during the second quarter valued at approximately $3,180,000. Core Capital Management & Research inc. purchased a new stake in shares of Medline in the 2nd quarter valued at approximately $96,000. Tidal Investments LLC purchased a new stake in shares of Medline in the 2nd quarter valued at approximately $334,000. Finally, WINTON GROUP Ltd boosted its stake in Medline by 1,263.0% in the 2nd quarter. WINTON GROUP Ltd now owns 367,057 shares of the company’s stock worth $14,477,000 after purchasing an additional 340,127 shares during the period.

Medline Stock Up 0.1%

MDLN stock opened at $34.70 on Friday. The stock has a market cap of $45.62 billion and a PE ratio of 43.92. The firm’s 50-day simple moving average is $35.62 and its 200 day simple moving average is $38.91. Medline has a fifty-two week low of $31.49 and a fifty-two week high of $50.88. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.18. The business had revenue of $7.68 billion for the quarter. As a group, sell-side analysts predict that Medline will post 1.51 EPS for the current year.

Medline Company Profile

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies and clinical products. Its offerings include surgical and exam gloves, personal protective equipment, operating-room supplies, wound-care products, patient-care items, laboratory products, apparel, and durable medical equipment.

The company serves hospitals, health systems, ambulatory surgery centers, physicians’ offices, long-term-care facilities, home-health providers, and other healthcare organizations.