Medline (NASDAQ:MDLN) Price Target Raised to $52.00 at Morgan Stanley

Medline (NASDAQ:MDLN) had its price objective upped by stock analysts at Morgan Stanley from $48.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 11.49% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Rothschild & Co Redburn set a $42.00 price target on Medline in a research note on Monday, January 12th. Wolfe Research started coverage on Medline in a research note on Monday, January 12th. They set an “outperform” rating and a $47.00 target price for the company. BTIG Research reiterated a “buy” rating and issued a $55.00 price target (up from $50.00) on shares of Medline in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Medline to a “hold” rating in a research report on Tuesday, January 13th. Finally, BNP Paribas Exane began coverage on shares of Medline in a research note on Monday, January 12th. They issued a “neutral” rating and a $38.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Medline presently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

Medline Stock Down 1.8%

Shares of NASDAQ MDLN traded down $0.87 during midday trading on Monday, reaching $46.64. 823,755 shares of the company traded hands, compared to its average volume of 3,294,958. The stock’s 50-day moving average is $44.52. Medline has a 52 week low of $34.89 and a 52 week high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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. The business’s quarterly revenue was up 14.8% compared to the same quarter last year.

Insider Buying and Selling at Medline

In other news, Director Charles N. Mills bought 2,579,310 shares of the firm’s 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 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 purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the business’s stock in a transaction that occurred on 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 sale, the insider owned 4,806,160 shares in the company, valued at $136,350,759.20. This represents a 55.88% decrease in their position. The disclosure for this sale is available in the SEC filing.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MDLN. Sound Income Strategies LLC purchased a new stake in Medline in the 4th quarter worth about $25,000. Entrust Financial LLC purchased a new stake in shares of Medline in the fourth quarter worth approximately $26,000. NBC Securities Inc. acquired a new stake in shares of Medline during the fourth quarter worth approximately $28,000. Global Retirement Partners LLC acquired a new stake in shares of Medline during the fourth quarter worth approximately $31,000. Finally, North Star Investment Management Corp. acquired a new position in Medline in the 4th quarter valued at approximately $36,000.

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.