Medline (NASDAQ:MDLN) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Medline (NASDAQ:MDLN) have been assigned an average recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twenty-one have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $46.81.

Several equities research analysts have recently weighed in on MDLN shares. Citigroup raised Medline to a “strong-buy” rating in a research note on Wednesday, August 5th. BTIG Research reiterated a “buy” rating and issued a $55.00 target price on shares of Medline in a report on Thursday, August 27th. Tigress Financial reduced their target price on Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Stifel Nicolaus decreased their target price on shares of Medline from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Barclays dropped their price target on shares of Medline from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday.

Medline Stock Down 0.2%

Shares of NASDAQ:MDLN opened at $35.70 on Wednesday. The firm has a market cap of $46.94 billion and a P/E ratio of 45.19. 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 12-month low of $31.49 and a 12-month high of $50.88. The business has a fifty day simple moving average of $34.67 and a 200 day simple moving average of $38.30.

Medline (NASDAQ:MDLN) last announced its earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.32 by $0.18. The company had revenue of $7.68 billion for the quarter. Analysts predict that Medline will post 1.51 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Private Ltd Gic sold 2,570,999 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $35.35, for a total value of $90,884,814.65. Following the transaction, the insider owned 20,231,483 shares in the company, valued at $715,182,924.05. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 10,787,572 shares of company stock worth $382,784,591 over the last ninety days. 0.81% of the stock is owned by company insiders.

Institutional Trading of Medline

A number of large investors have recently bought and sold shares of the business. Artisan Partners Limited Partnership bought a new position in shares of Medline during the 4th quarter worth approximately $192,847,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Medline by 233.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock valued at $222,500,000 after acquiring an additional 3,500,000 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Medline by 39,404.0% in the 1st quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock valued at $155,929,000 after acquiring an additional 3,495,136 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Medline during the 4th quarter valued at $79,800,000. Finally, Eminence Capital LP acquired a new position in shares of Medline during the 4th quarter valued at $63,210,000.

Medline Company Profile

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies, clinical products and equipment to hospitals, health systems, physician practices, long-term care facilities, surgery centers and other healthcare providers. Its offerings are designed to support patient care, surgical procedures, infection prevention and healthcare facility operations.

The company’s product portfolio includes surgical instruments and supplies, exam gloves and protective apparel, wound care products, patient-care items, respiratory and monitoring equipment, laboratory supplies, durable medical equipment and products for environmental and facility management.