Medline (NASDAQ:MDLN) Stock Bumped Down to Strong Sell by Zacks Research

Zacks Research downgraded shares of Medline (NASDAQ:MDLN) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks reports.

MDLN has been the topic of several other reports. Stifel Nicolaus lowered their target price on Medline from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. BTIG Research reissued a “buy” rating and issued a $55.00 price objective on shares of Medline in a report on Thursday, August 27th. Weiss Ratings lowered Medline from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Citigroup upgraded Medline to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Truist Financial dropped their price objective on shares of Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Medline currently has a consensus rating of “Moderate Buy” and an average target price of $46.81.

Medline Trading Down 0.4%

NASDAQ:MDLN opened at $35.31 on Tuesday. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $46.42 billion and a PE ratio of 44.70. The firm’s 50 day moving average is $34.75 and its 200 day moving average is $37.99. Medline has a 12 month low of $31.49 and a 12 month high of $50.88.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.32 by $0.18. The firm had revenue of $7.68 billion during the quarter. Sell-side analysts expect that Medline will post 1.51 earnings per share for the current year.

Insider Activity

In other news, major shareholder Private Ltd Gic sold 2,088,987 shares of the firm’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $35.05, for a total value of $73,218,994.35. Following the completion of the transaction, the insider directly owned 16,453,806 shares of the company’s stock, valued at $576,705,900.30. This trade represents a 11.27% 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. Insiders sold a total of 10,787,572 shares of company stock worth $382,784,591 in the last quarter. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Medline

A number of hedge funds and other institutional investors have recently made changes to their positions in MDLN. GAMMA Investing LLC lifted its holdings in Medline by 68.3% during the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock worth $25,000 after purchasing an additional 254 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in Medline during the 1st quarter valued at about $30,000. Reyes Financial Architecture Inc. bought a new stake in shares of Medline during the third quarter valued at about $30,000. NewEdge Advisors LLC increased its position in shares of Medline by 100.0% during the second quarter. NewEdge Advisors LLC now owns 950 shares of the company’s stock valued at $37,000 after buying an additional 475 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Medline by 86.2% in the second quarter. Allworth Financial LP now owns 1,052 shares of the company’s stock worth $41,000 after buying an additional 487 shares in the last quarter.

Medline Company Profile

Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.

Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.