Medline (NASDAQ:MDLN) Reaches New 52-Week High – What’s Next?

Medline (NASDAQ:MDLN) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $50.09 and last traded at $49.64, with a volume of 3935753 shares trading hands. The stock had previously closed at $49.80.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. TD Cowen started coverage on shares of Medline in a research report on Monday, January 12th. They set a “buy” rating for the company. BNP Paribas Exane initiated coverage on Medline in a research note on Monday, January 12th. They set a “neutral” rating and a $38.00 price objective on the stock. Evercore began coverage on Medline in a report on Monday, January 12th. They set an “outperform” rating and a $50.00 target price on the stock. Rothschild & Co Redburn set a $42.00 price target on Medline in a research report on Monday, January 12th. Finally, BMO Capital Markets began coverage on shares of Medline in a research note on Monday, January 12th. They issued an “outperform” rating and a $45.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Medline has a consensus rating of “Moderate Buy” and an average price target of $47.92.

Medline Price Performance

The firm has a 50 day simple moving average of $44.01.

Insider Activity at Medline

In other news, Director Andrew J. Mills acquired 2,586,206 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average price of $29.00 per share, with a total value of $74,999,974.00. Following the purchase, the director owned 2,586,206 shares of the company’s stock, valued at approximately $74,999,974. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the business’s 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 owned 4,806,160 shares in the company, valued at approximately $136,350,759.20. This represents a 55.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Institutional Trading of Medline

Large investors have recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new position in Medline in the 4th quarter worth $25,000. Entrust Financial LLC acquired a new position in shares of Medline during the 4th quarter worth about $26,000. NBC Securities Inc. bought a new stake in Medline during the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC acquired a new stake in Medline in the 4th quarter valued at approximately $31,000. Finally, North Star Investment Management Corp. acquired a new position in shares of Medline during the fourth quarter worth approximately $36,000.

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.