Medline (NASDAQ:MDLN) Hits New 12-Month Low – What’s Next?

Medline (NASDAQ:MDLN) reached a new 52-week low during trading on Thursday . The stock traded as low as $32.76 and last traded at $32.89, with a volume of 3161926 shares trading hands. The stock had previously closed at $33.91.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. William Blair reiterated an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Robert W. Baird set a $42.00 target price on shares of Medline in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $37.00 target price on shares of Medline in a report on Thursday, August 6th. JPMorgan Chase & Co. decreased their price target 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. Finally, Truist Financial dropped their price target on shares of Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.42.

Medline Price Performance

The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66. The stock has a market cap of $45.04 billion and a P/E ratio of 43.37. The firm has a 50 day moving average price of $38.09 and a 200 day moving average price of $41.01.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. The company had revenue of $7.68 billion for the quarter. On average, analysts forecast that Medline will post 1.51 EPS for the current fiscal year.

Insider Buying and Selling at Medline

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the transaction, the insider directly owned 23,899 shares in the company, valued at $878,766.23. This represents a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Private Ltd Gic sold 1,976,618 shares of the stock in a transaction 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 completion of the sale, the insider directly owned 25,264,760 shares of the company’s stock, valued at approximately $899,425,456. This trade represents a 7.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,538,896 shares of company stock valued at $161,936,454 over the last 90 days. 0.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Medline

Institutional investors have recently bought and sold shares of the business. Entrust Financial LLC purchased a new position in shares of Medline in the fourth quarter valued at about $26,000. GAMMA Investing LLC grew 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 purchasing an additional 254 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Medline during the fourth quarter worth about $28,000. Whipplewood Advisors LLC bought a new stake in Medline during the 1st quarter valued at approximately $30,000. Finally, Global Retirement Partners LLC bought a new stake in Medline during the 4th quarter valued at approximately $31,000.

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.