Medline (NASDAQ:MDLN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Medline (NASDAQ:MDLN) have earned an average rating of “Moderate Buy” from the twenty-nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $47.7037.

A number of analysts have commented on MDLN shares. JPMorgan Chase & Co. set a $55.00 price objective on Medline in a report on Wednesday, January 21st. Sanford C. Bernstein began coverage on Medline in a report on Monday, January 12th. They set an “outperform” rating and a $49.00 price target for the company. BNP Paribas Exane began coverage on Medline in a research note on Monday, January 12th. They set a “neutral” rating and a $38.00 price objective on the stock. Rothschild Redb upgraded shares of Medline to a “hold” rating in a research note on Monday, January 12th. Finally, Mizuho assumed coverage on shares of Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $48.00 target price for the company.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Medline

Institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA bought a new stake in Medline in the fourth quarter worth about $48,996,000. UBS Group AG bought a new stake in shares of Medline in the 4th quarter worth approximately $54,707,000. Vanguard Group Inc. purchased a new position in Medline in the fourth quarter valued at approximately $793,278,000. NBC Securities Inc. bought a new position in Medline during the fourth quarter valued at $28,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in Medline in the fourth quarter worth $2,768,000.

Medline Price Performance

Shares of NASDAQ MDLN opened at $46.20 on Friday. Medline has a 1 year low of $34.89 and a 1 year high of $46.90.

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.