Brokerages Set Medline (NASDAQ:MDLN) Target Price at $47.42

Medline (NASDAQ:MDLN) has been given a consensus rating of “Moderate Buy” by the twenty-nine brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, twenty-one have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $47.4231.

Several research firms recently commented on MDLN. BTIG Research reaffirmed a “buy” rating and issued a $55.00 price target on shares of Medline in a report on Thursday. Royal Bank Of Canada lowered their price objective on Medline from $53.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Barclays cut their target price on Medline from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, June 1st. TD Cowen lowered their price target on shares of Medline from $53.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, Evercore set a $39.00 price objective on shares of Medline in a research report on Thursday, August 6th.

Insider Activity

In other news, insider Jessi L. Corcoran purchased 5,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the acquisition, the insider directly owned 5,000 shares of the company’s stock, valued at approximately $170,750. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Private Ltd Gic sold 100,000 shares of Medline stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.80, for a total transaction of $3,580,000.00. Following the sale, the insider directly owned 22,802,482 shares in the company, valued at approximately $816,328,855.60. The trade was a 0.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,538,896 shares of company stock valued at $161,936,454 in the last 90 days. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Medline

Large investors have recently modified their holdings of the business. Carlyle Group Inc. acquired a new stake in shares of Medline during the 4th quarter worth about $9,042,728,000. H&F Corporate Investors X Ltd. purchased a new position in Medline during the fourth quarter worth about $4,179,591,000. California State Teachers Retirement System boosted its stake in Medline by 128,629.5% during the second quarter. California State Teachers Retirement System now owns 22,873,938 shares of the company’s stock worth $902,148,000 after buying an additional 22,856,169 shares during the period. Vanguard Group Inc. acquired a new stake in shares of Medline during the fourth quarter valued at about $793,278,000. Finally, Morgan Stanley purchased a new stake in shares of Medline in the 4th quarter valued at approximately $636,807,000.

Medline Trading Down 0.7%

Shares of MDLN stock opened at $35.03 on Tuesday. The stock’s fifty day moving average is $37.94 and its two-hundred day moving average is $40.52. The firm has a market capitalization of $46.05 billion and a P/E ratio of 44.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33. Medline has a fifty-two week low of $32.49 and a fifty-two week high of $50.88.

Medline (NASDAQ:MDLN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. The business had revenue of $7.68 billion for the quarter. Research analysts expect that Medline will post 1.51 earnings per share for the current fiscal year.

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.