Medline (NASDAQ:MDLN) Given Average Recommendation of “Moderate Buy” by Analysts

Medline (NASDAQ:MDLN) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-eight analysts that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $47.9231.

MDLN has been the subject of several research analyst reports. Bank of America began coverage on Medline in a research note on Monday, January 12th. They set a “buy” rating and a $50.00 target price for the company. Robert W. Baird initiated coverage on shares of Medline in a research report on Monday, January 12th. They set an “outperform” rating and a $48.00 price objective for the company. Wall Street Zen upgraded shares of Medline to a “hold” rating in a research report on Saturday, January 10th. Zacks Research upgraded shares of Medline to a “hold” rating in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. set a $55.00 price objective on Medline in a report on Wednesday, January 21st.

Medline Stock Down 1.0%

Shares of Medline stock opened at $44.59 on Friday. Medline has a twelve month low of $34.89 and a twelve month high of $47.99. The company has a 50-day simple moving average of $43.47.

Insider Transactions at Medline

In other Medline news, Director Andrew J. Mills bought 2,586,206 shares of the stock in a transaction on Thursday, December 18th. The shares were bought at an average price of $29.00 per share, with a total value of $74,999,974.00. Following the purchase, the director directly owned 2,586,206 shares in the company, valued at $74,999,974. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles N. Mills bought 2,579,310 shares of Medline stock in a transaction dated Thursday, December 18th. The stock was acquired at an average price of $29.00 per share, with a total value of $74,799,990.00. Following the completion of the transaction, the director directly owned 2,441,379 shares of the company’s stock, valued at approximately $70,799,991. The trade was a -1,870.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Trading of Medline

A number of hedge funds have recently bought and sold shares of the business. Chung Wu Investment Group LLC acquired a new stake in shares of Medline in the 4th quarter worth $155,000. North Star Investment Management Corp. purchased a new stake in shares of Medline in the fourth quarter valued at about $36,000. NBC Securities Inc. acquired a new stake in Medline during the fourth quarter worth about $28,000. Pictet Asset Management Holding SA purchased a new position in Medline during the fourth quarter worth about $48,996,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Medline in the 4th quarter valued at about $2,768,000.

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.