Medline (NASDAQ:MDLN) Research Coverage Started at Citigroup

Citigroup initiated coverage on shares of Medline (NASDAQ:MDLN) in a research report released on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $60.00 target price on the stock.

A number of other research firms have also commented on MDLN. Rothschild & Co Redburn set a $42.00 price objective on Medline in a research note on Monday, January 12th. TD Cowen started coverage on Medline in a research note on Monday, January 12th. They issued a “buy” rating for the company. Robert W. Baird assumed coverage on Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $48.00 price target for the company. BMO Capital Markets upped their price target on shares of Medline from $45.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Finally, Morgan Stanley increased their price objective on shares of Medline from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Medline has an average rating of “Moderate Buy” and a consensus price target of $50.62.

Medline Price Performance

NASDAQ MDLN opened at $41.46 on Wednesday. Medline has a 1-year low of $34.89 and a 1-year high of $50.88. The business’s 50 day moving average price is $44.62.

Medline (NASDAQ:MDLN) last announced its earnings results on Wednesday, February 25th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.25). The firm had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.52 billion. The business’s quarterly revenue was up 14.8% compared to the same quarter last year.

Insider Activity

In related news, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $28.37, for a total value of $172,727,085.27. Following the transaction, the insider owned 4,806,160 shares in the company, valued at $136,350,759.20. This trade represents a 55.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew J. Mills acquired 2,586,206 shares of the 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 completion of the transaction, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MDLN. Carlyle Group Inc. acquired a new stake in shares of Medline during the 4th quarter worth approximately $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new position in Medline in the fourth quarter valued at approximately $4,179,591,000. Vanguard Group Inc. acquired a new position in Medline in the fourth quarter valued at approximately $793,278,000. Morgan Stanley bought a new position in Medline in the fourth quarter valued at approximately $636,807,000. Finally, Capital Research Global Investors acquired a new stake in Medline during the 4th quarter worth $620,937,000.

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.