Medline (NASDAQ:MDLN) Receives Average Rating of “Moderate Buy” from Brokerages

Medline (NASDAQ:MDLN) has received an average recommendation of “Moderate Buy” from the twenty-nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $47.4231.

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $37.00 price target on shares of Medline in a report on Thursday, August 6th. Truist Financial decreased their price target on shares of Medline from $56.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Barclays decreased their target price on shares of Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, June 1st. BMO Capital Markets reiterated an “outperform” rating and set a $47.00 target price on shares of Medline in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada decreased their price target on shares of Medline from $53.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th.

Medline Price Performance

MDLN stock opened at $34.30 on Friday. The firm has a market cap of $45.09 billion and a P/E ratio of 43.42. The firm’s fifty day moving average is $35.85 and its 200 day moving average is $39.01. Medline has a 52 week low of $31.49 and a 52 week high of $50.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.32 by $0.18. The firm had revenue of $7.68 billion during the quarter. Research analysts predict that Medline will post 1.51 earnings per share for the current year.

Insider Transactions at Medline

In related news, major shareholder Private Ltd Gic sold 1,976,618 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $35.60, for a total value of $70,367,600.80. Following the completion of the transaction, the insider owned 25,264,760 shares of the company’s stock, valued at $899,425,456. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 4,438,896 shares of company stock worth $158,259,454 over the last 90 days. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Medline

Several institutional investors have recently bought and sold shares of MDLN. GAMMA Investing LLC boosted its position in shares of Medline by 68.3% in 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 acquired a new position in shares of Medline during the first quarter valued at about $30,000. NewEdge Advisors LLC increased its holdings 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 acquiring an additional 475 shares in the last quarter. Allworth Financial LP raised its position in shares of Medline by 86.2% in the 2nd quarter. Allworth Financial LP now owns 1,052 shares of the company’s stock valued at $41,000 after purchasing an additional 487 shares during the last quarter. Finally, Whittier Trust Co. purchased a new position in shares of Medline in the 1st quarter valued at approximately $49,000.

About Medline

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies and clinical products. Its offerings include surgical and exam gloves, personal protective equipment, operating-room supplies, wound-care products, patient-care items, laboratory products, apparel, and durable medical equipment.

The company serves hospitals, health systems, ambulatory surgery centers, physicians’ offices, long-term-care facilities, home-health providers, and other healthcare organizations.