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

Shares of Medline (NASDAQ:MDLN) have earned a consensus recommendation of “Moderate Buy” from the twenty-nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twenty-two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $50.5385.

A number of equities research analysts have recently issued reports on the stock. BNP Paribas Exane reduced their price target on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft set a $42.00 target price on shares of Medline in a report on Thursday, May 7th. Sanford C. Bernstein cut their target price on Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Citigroup decreased their price target on Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Medline in a research note on Thursday, May 7th.

Insider Activity

In related news, insider Douglas P. Golwas sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the completion of the transaction, the insider directly owned 23,899 shares in the company, valued at $878,766.23. This trade represents a 80.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessi L. Corcoran purchased 5,000 shares of Medline stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at approximately $170,750. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. 0.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medline

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDLN. Sound Income Strategies LLC purchased a new position in Medline in the fourth quarter valued at $25,000. GAMMA Investing LLC increased 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 during the period. Entrust Financial LLC acquired a new stake in Medline in the 4th quarter valued at about $26,000. NBC Securities Inc. purchased a new position in shares of Medline in the 4th quarter valued at about $28,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Medline in the 1st quarter valued at about $30,000.

Medline Stock Performance

Shares of Medline stock opened at $41.04 on Monday. The firm has a market cap of $53.91 billion and a PE ratio of 128.25. The company has a quick ratio of 2.51, a current ratio of 4.41 and a debt-to-equity ratio of 0.65. Medline has a 52 week low of $32.81 and a 52 week high of $50.88. The business’s fifty day simple moving average is $38.07 and its 200-day simple moving average is $42.18.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion during the quarter. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts forecast that Medline will post 1.49 earnings per share for the current year.

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.