Medline (NASDAQ:MDLN) Stock Has Average Price Target of $46.81 According to Brokerages

Medline (NASDAQ:MDLN) has been given an average rating of “Moderate Buy” by the twenty-nine ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $46.81.

A number of equities research analysts have issued reports on MDLN shares. Citigroup upgraded shares of Medline to a “strong-buy” rating in a research note on Wednesday, August 5th. TD Cowen reduced their price target on shares of Medline from $53.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Robert W. Baird set a $42.00 price target on shares of Medline in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $37.00 price objective on shares of Medline in a research note on Thursday, August 6th. Finally, Weiss Ratings cut shares of Medline from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th.

Medline Stock Performance

MDLN opened at $35.46 on Wednesday. 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 has a 52-week low of $31.49 and a 52-week high of $50.88. The firm has a market cap of $46.62 billion and a P/E ratio of 44.89. The business’s fifty day moving average is $34.75 and its 200-day moving average is $38.05.

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

Insiders Place Their Bets

In other Medline 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 sale, the insider owned 16,453,806 shares of the company’s stock, valued at approximately $576,705,900.30. This trade represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 10,787,572 shares of company stock worth $382,784,591 in the last three months. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Medline

Several hedge funds and other institutional investors have recently modified their holdings of MDLN. Artisan Partners Limited Partnership acquired a new position in Medline during the 4th quarter worth approximately $192,847,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position 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 in the last quarter. Bessemer Group Inc. boosted its position in Medline by 39,404.0% in the first quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock valued at $155,929,000 after buying an additional 3,495,136 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Medline in the fourth quarter valued at approximately $79,800,000. Finally, Eminence Capital LP bought a new stake in shares of Medline during the fourth quarter worth $63,210,000.

About Medline

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.