Medline (NASDAQ:MDLN) Stock Price Down 5.3% – What’s Next?

Medline (NASDAQ:MDLN) shares dropped 5.3% on Friday . The company traded as low as $35.07 and last traded at $35.15. Approximately 1,245,103 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 7,063,966 shares. The stock had previously closed at $37.13.

Analyst Ratings Changes

Several analysts have recently issued reports on MDLN shares. Evercore reissued an “outperform” rating and set a $55.00 price target on shares of Medline in a research report on Wednesday, February 25th. Weiss Ratings lowered Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Stifel Nicolaus set a $55.00 price target on Medline in a research note on Wednesday, February 25th. Morgan Stanley increased their target price on Medline from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Finally, Barclays lowered their target price on shares of Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, June 1st. 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.54.

Medline Trading Down 2.4%

The company has a market cap of $47.60 billion and a price-to-earnings ratio of 112.87. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average of $40.91.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that Medline will post 1.51 earnings per share for the current year.

Insider Transactions at Medline

In other Medline news, insider Jessi L. Corcoran acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the acquisition, the insider directly owned 5,000 shares in the company, valued at $170,750. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Medline

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mass General Brigham Inc bought a new position in shares of Medline in the fourth quarter worth about $1,104,000. Baillie Gifford & Co. acquired a new stake in Medline in the 4th quarter valued at $437,236,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Medline during the fourth quarter valued at approximately $429,544,000. UBS Group AG acquired a new stake in shares of Medline during the 4th quarter valued at $54,707,000. Finally, Pictet Asset Management Holding SA bought a new stake in Medline in the fourth quarter valued at about $48,996,000.

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.