Medline (NASDAQ:MDLN) Stock Price Expected to Rise, Citigroup Analyst Says

Medline (NASDAQ:MDLN) had its price target boosted by Citigroup from $45.00 to $47.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup‘s target price indicates a potential upside of 18.57% from the company’s previous close.

A number of other equities research analysts also recently weighed in on MDLN. Royal Bank Of Canada lowered their price target on Medline from $53.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Tigress Financial reduced their price objective on Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Stifel Nicolaus decreased their price objective on shares of Medline from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Robert W. Baird set a $42.00 target price on shares of Medline in a research note on Thursday, August 6th. Finally, TD Cowen dropped their target price on shares of Medline from $53.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Twenty-three analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.08.

Medline Stock Down 0.3%

NASDAQ:MDLN traded down $0.12 during mid-day trading on Thursday, reaching $39.64. The stock had a trading volume of 8,997,280 shares, compared to its average volume of 8,541,800. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61. The company has a market capitalization of $52.12 billion and a price-to-earnings ratio of 90.09. Medline has a 1-year low of $31.37 and a 1-year high of $50.88. The stock’s 50 day simple moving average is $34.78 and its two-hundred day simple moving average is $39.48.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.12. The firm had revenue of $7.86 billion for the quarter. Equities analysts anticipate that Medline will post 1.49 EPS for the current year.

Insider Activity

In related news, major shareholder Private Ltd Gic sold 2,088,987 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $35.05, for a total transaction of $73,218,994.35. Following the completion of the transaction, the insider owned 16,453,806 shares in the company, valued at $576,705,900.30. The trade was a 11.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 7,948,676 shares of company stock valued at $281,805,137. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Medline

Several large investors have recently added to or reduced their stakes in MDLN. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Medline by 233.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock valued at $222,500,000 after buying an additional 3,500,000 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Medline by 39,404.0% in the 1st quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock worth $155,929,000 after acquiring an additional 3,495,136 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Medline by 30,255.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,700,425 shares of the company’s stock worth $94,353,000 after acquiring an additional 2,691,529 shares during the period. Bank of New York Mellon Corp bought a new stake in Medline in the 2nd quarter valued at about $40,430,000. Finally, Janus Henderson Group PLC lifted its position in Medline by 8.4% in the 1st quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock valued at $506,546,000 after purchasing an additional 887,240 shares during the last quarter.

More Medline News

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline reported Q3 EPS of $0.44, beating the $0.32 consensus estimate, with revenue of $7.86 billion. Shares gapped higher following the earnings report. Medline shares gap up following strong earnings
• Positive Sentiment: Analyst target increases add to the bullish outlook: UBS raised its target to $49 and maintained a Buy rating; Citi raised its target to $47 and kept Buy; and Leerink Partners lifted its target to $46 with an Outperform rating. UBS ratings Citi ratings Leerink Partners ratings
• Positive Sentiment: BTIG reaffirmed its Buy rating with a $55 target, while Barclays also assigned a Buy rating, adding to the favorable analyst sentiment. BTIG ratings Barclays rating
• Positive Sentiment: Medline plans price increases in 2027 to offset inflation, which could help protect revenue and profitability if customers accept the higher prices. Pricing plans and Q3 results

About Medline

Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations.

The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations.

Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.