Jessi Corcoran Purchases 5,000 Shares of Medline (NASDAQ:MDLN) Stock

Medline (NASDAQ:MDLN) insider Jessi Corcoran purchased 5,000 shares of the stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $34.15 per share, with a total value of $170,750.00. Following the transaction, the insider directly owned 5,000 shares in the company, valued at $170,750. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Medline Trading Up 6.5%

MDLN traded up $2.21 during midday trading on Tuesday, reaching $36.01. 10,159,267 shares of the company’s stock traded hands, compared to its average volume of 7,085,118. The firm has a fifty day moving average price of $41.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. Medline has a 52 week low of $32.81 and a 52 week high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. Medline’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts predict that Medline will post 1.51 EPS for the current year.

More Medline News

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline said it is expanding its manufacturing footprint in Slovakia, a move aimed at supporting long-term growth in Europe and potentially improving supply-chain capacity and regional reach. Article Title
• Positive Sentiment: The company presented at Goldman Sachs’ 47th Annual Global Healthcare Conference, which can help reinforce investor visibility and provide an update on strategy and execution. Article Title
• Neutral Sentiment: Barclays lowered its price target on Medline to $45 from $50 but kept an Overweight rating, signaling that the stock still has upside potential even as margin pressure and slower growth expectations weigh on sentiment. Article Title
• Neutral Sentiment: Short-interest data showed no meaningful short-position change, so this looks like a technical update rather than a fundamental catalyst for MDLN. Article Title
• Negative Sentiment: Multiple law firms announced securities-fraud investigations into Medline after an FDA warning letter was referenced, raising legal and regulatory overhang that can pressure the stock. Article Title
• Negative Sentiment: The upcoming expiration of Medline’s lock-up period on June 15 could increase the risk of additional share supply, which may weigh on the stock in the near term. Article Title

Wall Street Analyst Weigh In

MDLN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Leerink Partners set a $56.00 price target on Medline in a research report on Wednesday, February 25th. Robert W. Baird lowered their price target on Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. UBS Group upped their target price on Medline from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Royal Bank Of Canada upped their target price on Medline from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. North Star Investment Management Corp. grew its holdings in shares of Medline by 60.2% during the 1st quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock worth $61,000 after acquiring an additional 512 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Medline in the 4th quarter worth approximately $25,000. Entrust Financial LLC purchased a new stake in shares of Medline in the 4th quarter worth approximately $26,000. NBC Securities Inc. purchased a new stake in shares of Medline in the 4th quarter worth approximately $28,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Medline in the 1st quarter worth approximately $30,000.

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.