Tigress Financial Initiates Coverage on Medline (NASDAQ:MDLN)

Equities researchers at Tigress Financial began coverage on shares of Medline (NASDAQ:MDLN) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $55.00 price target on the stock. Tigress Financial’s price target suggests a potential upside of 18.31% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. William Blair initiated coverage on shares of Medline in a research note on Monday, January 12th. They issued an “outperform” rating on the stock. BMO Capital Markets started coverage on Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $45.00 target price for the company. JPMorgan Chase & Co. set a $55.00 price target on Medline in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft initiated coverage on Medline in a research note on Monday, January 12th. They set a “hold” rating and a $40.00 price objective for the company. Finally, Morgan Stanley started coverage on shares of Medline in a report on Sunday, January 11th. They issued an “overweight” rating and a $48.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Medline presently has an average rating of “Moderate Buy” and a consensus price target of $47.70.

Medline Stock Up 3.4%

Shares of MDLN traded up $1.52 during trading hours on Thursday, reaching $46.49. 1,582,056 shares of the company traded hands, compared to its average volume of 3,634,277. Medline has a 1-year low of $34.89 and a 1-year high of $46.90.

Insider Buying and Selling at Medline

In other news, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $28.37, for a total transaction of $172,727,085.27. Following the sale, the insider directly owned 4,806,160 shares of the company’s stock, valued at $136,350,759.20. This represents a 55.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles N. Mills purchased 2,579,310 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was bought at an average cost of $29.00 per share, with a total value of $74,799,990.00. Following the acquisition, the director owned 2,441,379 shares of the company’s stock, valued at $70,799,991. This represents a -1,870.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MDLN. Vanguard Group Inc. acquired a new stake in shares of Medline in the 4th quarter valued at $793,278,000. Baillie Gifford & Co. acquired a new stake in Medline in the fourth quarter worth about $437,236,000. Massachusetts Financial Services Co. MA bought a new stake in Medline during the 4th quarter worth about $429,544,000. UBS Group AG acquired a new position in Medline during the 4th quarter valued at about $54,707,000. Finally, Pictet Asset Management Holding SA bought a new position in shares of Medline in the 4th quarter valued at about $48,996,000.

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.