Medline (NASDAQ:MDLN) Posts Earnings Results, Misses Expectations By $0.25 EPS

Medline (NASDAQ:MDLN) released its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.25), Briefing.com reports. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year.

Medline Price Performance

Medline stock traded down $0.56 during midday trading on Wednesday, hitting $49.43. 1,298,747 shares of the stock were exchanged, compared to its average volume of 3,268,246. The firm has a fifty day moving average price of $44.13. Medline has a 52 week low of $34.89 and a 52 week high of $50.88.

Insider Buying and Selling at Medline

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

Hedge Funds Weigh In On Medline

A number of large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in Medline in the 4th quarter valued at approximately $31,000. Toronto Dominion Bank bought a new position in shares of Medline in the fourth quarter valued at about $52,000. Royal Bank of Canada acquired a new position in shares of Medline in the fourth quarter valued at approximately $59,000. Northwest & Ethical Investments L.P. bought a new position in shares of Medline during the fourth quarter worth approximately $63,000. Finally, NewEdge Advisors LLC acquired a new stake in Medline during the 4th quarter worth approximately $79,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MDLN shares. The Goldman Sachs Group assumed coverage on shares of Medline in a report on Monday, January 12th. They issued a “buy” rating and a $49.00 price target for the company. Wells Fargo & Company initiated coverage on Medline in a research report on Monday, January 12th. They set an “equal weight” rating and a $42.00 target price for the company. Evercore started coverage on Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $50.00 price target on the stock. William Blair assumed coverage on Medline in a report on Monday, January 12th. They set an “outperform” rating for the company. Finally, Tigress Financial assumed coverage on shares of Medline in a research report on Thursday, February 5th. They set a “buy” rating and a $55.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.92.

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.