Medline (NASDAQ:MDLN) Sees Unusually-High Trading Volume – Should You Buy?

Medline (NASDAQ:MDLN) shares saw strong trading volume on Friday . 9,930,552 shares changed hands during trading, an increase of 68% from the previous session’s volume of 5,913,535 shares.The stock last traded at $37.9760 and had previously closed at $37.10.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group lifted their price target on Medline from $48.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wells Fargo & Company lifted their price target on Medline from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a report on Thursday, May 7th. Evercore restated an “outperform” rating and issued a $55.00 target price on shares of Medline in a report on Wednesday, February 25th. Finally, BTIG Research restated a “buy” rating and issued a $55.00 target price on shares of Medline in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.85.

Medline Stock Up 0.7%

The firm has a fifty day moving average of $42.93.

Medline (NASDAQ:MDLN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. Medline’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts expect that Medline will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. North Star Investment Management Corp. lifted its holdings in shares of Medline by 60.2% during the first quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock worth $61,000 after buying an additional 512 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Medline during the fourth quarter worth approximately $25,000. Entrust Financial LLC bought a new stake in shares of Medline during the fourth quarter valued at approximately $26,000. NBC Securities Inc. bought a new stake in shares of Medline during the fourth quarter valued at approximately $28,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Medline during the first quarter valued at approximately $30,000.

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.