Medline (NASDAQ:MDLN) Hits New 1-Year High – Time to Buy?

Medline (NASDAQ:MDLN) shares reached a new 52-week high on Thursday . The stock traded as high as $46.08 and last traded at $45.96, with a volume of 2490235 shares. The stock had previously closed at $43.30.

Analyst Ratings Changes

MDLN has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on Medline in a research note on Monday, January 12th. They issued a “buy” rating and a $49.00 price target for the company. Citigroup initiated coverage on Medline in a report on Monday, January 12th. They set a “buy” rating and a $48.00 target price on the stock. Rothschild & Co Redburn started coverage on Medline in a report on Monday, January 12th. They issued a “neutral” rating and a $42.00 price target for the company. Mizuho assumed coverage on Medline in a research report on Monday, January 12th. They set an “outperform” rating and a $48.00 price target on the stock. Finally, William Blair started coverage on shares of Medline in a report on Monday, January 12th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.42.

Medline Price Performance

Insider Buying and Selling

In other news, Director Charles N. Mills purchased 2,579,310 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were acquired at an average price of $29.00 per share, for a total transaction of $74,799,990.00. Following the completion of the acquisition, the director directly owned 2,441,379 shares of the company’s stock, valued at $70,799,991. The trade was a -1,870.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $28.37, for a total transaction of $172,727,085.27. Following the sale, the insider directly owned 4,806,160 shares in the company, valued at approximately $136,350,759.20. This trade represents a 55.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On Medline

A number of institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC bought a new position in Medline in the 4th quarter worth approximately $25,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Medline in the fourth quarter worth $429,544,000. Perigon Wealth Management LLC bought a new position in Medline during the fourth quarter worth $211,000. Finally, SteelPeak Wealth LLC bought a new position in Medline during the fourth quarter worth $441,000.

Medline Company Profile

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.