JPMorgan Chase & Co. Lowers Medline (NASDAQ:MDLN) Price Target to $46.00

Medline (NASDAQ:MDLN) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $53.00 to $46.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 31.29% from the company’s current price.

A number of other research firms also recently weighed in on MDLN. TD Cowen reduced their target price on shares of Medline from $53.00 to $45.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company dropped their price objective on Medline from $45.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $37.00 price objective on Medline in a report on Thursday, August 6th. Robert W. Baird set a $42.00 target price on Medline in a research report on Thursday, August 6th. Finally, Stifel Nicolaus lowered their target price on Medline from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Medline has a consensus rating of “Moderate Buy” and a consensus target price of $47.42.

Medline Stock Performance

MDLN traded down $0.00 during trading on Wednesday, hitting $35.04. 1,159,933 shares of the company traded hands, compared to its average volume of 7,361,199. The firm has a market cap of $46.03 billion and a P/E ratio of 109.72. The stock’s fifty day moving average is $38.21 and its 200 day moving average is $41.57. 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 has a one year low of $32.81 and a one year high of $50.88.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. The company had revenue of $7.68 billion for the quarter. As a group, equities analysts predict that Medline will post 1.49 EPS for the current fiscal year.

Insider Activity at Medline

In other news, insider Jessi L. Corcoran acquired 5,000 shares of Medline stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $34.15 per share, with a total value of $170,750.00. Following the completion of the purchase, the insider owned 5,000 shares in the company, valued at approximately $170,750. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Private Ltd Gic sold 1,976,618 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $35.60, for a total transaction of $70,367,600.80. Following the sale, the insider directly owned 25,264,760 shares in the company, valued at $899,425,456. This trade represents a 7.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,938,896 shares of company stock valued at $104,656,454. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Medline

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

Trending Headlines about Medline

Here are the key news stories impacting Medline this week:

• Positive Sentiment: TD Cowen maintained a Buy rating while lowering its price target from $53 to $45. The target still implies meaningful upside and reflects confidence in Medline’s cash flow and longer-term growth outlook. TD Cowen price target report
• Positive Sentiment: Tigress Financial also retained a Buy rating despite cutting its target from $62 to $55, indicating that the firm views the recent weakness as excessive and expects substantial potential appreciation. Tigress Financial analyst action
• Positive Sentiment: Medline recently reported quarterly EPS of $0.50, well above the $0.32 consensus estimate, on approximately $7.7 billion in revenue. The earnings beat may help offset concerns about valuation and near-term analyst downgrades.
• Neutral Sentiment: Recent institutional activity included new positions and increased holdings by several investment firms. Reported short interest was zero, although the data appears incomplete and offers limited insight into trading pressure.
• Negative Sentiment: Wells Fargo lowered its price target from $45 to $34 and assigned an Equal Weight rating. Its target is near or slightly below recent trading levels, signaling limited near-term upside. Wells Fargo price target report
• Negative Sentiment: Major shareholder Private Ltd Gic sold 590,284 shares for roughly $21 million, reducing its stake by 2.36%. Including sales disclosed for August 5 and 6, the investor has recently sold nearly 2.84 million shares, which may weigh on sentiment. Medline shareholder sale
• Negative Sentiment: Kaplan Fox is investigating potential securities-law violations involving Medline. The announcement does not establish wrongdoing, but it adds legal and reputational uncertainty for investors. Kaplan Fox investigation

About Medline

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.