Medline (NASDAQ:MDLN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Medline (NASDAQ:MDLN) has been given a consensus rating of “Moderate Buy” by the twenty-nine analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, twenty-one have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $47.4231.

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Medline from $53.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 12th. Barclays dropped their price target on shares of Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, June 1st. Sanford C. Bernstein cut their price target on shares of Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Citigroup upgraded Medline to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Medline from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th.

Insider Activity

In related news, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the transaction, the insider directly owned 23,899 shares of the company’s stock, valued at $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessi L. Corcoran bought 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, for a total transaction of $170,750.00. Following the completion of the acquisition, the insider directly owned 5,000 shares of the company’s stock, valued at $170,750. The trade was a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 4,538,896 shares of company stock valued at $161,936,454. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MDLN. GAMMA Investing LLC increased its position in shares of Medline by 68.3% during the second quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock worth $25,000 after buying an additional 254 shares during the period. Entrust Financial LLC acquired a new position in Medline in the fourth quarter valued at $26,000. NBC Securities Inc. bought a new stake in Medline during the fourth quarter valued at $28,000. Whipplewood Advisors LLC bought a new stake in Medline during the first quarter valued at $30,000. Finally, Global Retirement Partners LLC acquired a new stake in Medline during the 4th quarter worth about $31,000.

Medline Stock Up 1.3%

MDLN stock opened at $34.70 on Tuesday. The stock has a market capitalization of $45.62 billion and a P/E ratio of 43.92. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. Medline has a 12 month low of $32.49 and a 12 month high of $50.88. The firm has a 50-day moving average price of $38.04 and a 200-day moving average price of $40.91.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.18. The firm had revenue of $7.68 billion for the quarter. As a group, equities research analysts anticipate that Medline will post 1.51 EPS for the current fiscal year.

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.