Insider Buying: Medline (NASDAQ:MDLN) Insider Purchases $170,750.00 in Stock

Medline (NASDAQ:MDLN) insider Jessi Corcoran acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased 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 $170,750. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Medline Stock Up 1.6%

Shares of MDLN stock opened at $37.13 on Friday. Medline has a 12 month low of $32.81 and a 12 month high of $50.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.51 and a current ratio of 4.41. The company’s 50 day moving average is $40.91. The firm has a market capitalization of $48.78 billion and a P/E ratio of 116.03.

Medline (NASDAQ:MDLN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion for the quarter. The business’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities analysts expect that Medline will post 1.51 EPS for the current fiscal year.

Institutional Trading of Medline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in Medline in the fourth quarter worth about $25,000. Entrust Financial LLC bought a new position in Medline during the fourth quarter worth about $26,000. NBC Securities Inc. bought a new position in Medline during the fourth quarter worth about $28,000. Whipplewood Advisors LLC bought a new position in Medline during the first quarter worth about $30,000. Finally, Global Retirement Partners LLC bought a new position in Medline during the fourth quarter worth about $31,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price objective on Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Wells Fargo & Company increased their price objective on Medline from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Sanford C. Bernstein reduced their price objective on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. BMO Capital Markets increased their price objective on Medline from $45.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Finally, Robert W. Baird reduced their price objective on Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Medline has an average rating of “Moderate Buy” and a consensus target price of $50.54.

About Medline

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.