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

Shares of Medline (NASDAQ:MDLN) have been assigned an average recommendation of “Moderate Buy” from the twenty-nine research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, twenty-two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $50.5385.

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Medline from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. William Blair reissued an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Citigroup dropped their price objective on shares of Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of Medline from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 10th. Finally, Stifel Nicolaus set a $55.00 price objective on shares of Medline in a research note on Wednesday, February 25th.

Medline Price Performance

Shares of NASDAQ MDLN opened at $36.42 on Thursday. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. The company’s 50-day moving average is $40.33. The stock has a market capitalization of $47.84 billion and a PE ratio of 113.81.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts anticipate that Medline will post 1.49 earnings per share for the current year.

Insider Activity

In other news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the transaction, the insider owned 23,899 shares in the company, valued at approximately $878,766.23. This represents a 80.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessi L. Corcoran bought 5,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $34.15 per share, for a total transaction of $170,750.00. Following the purchase, the insider owned 5,000 shares of the company’s stock, valued at approximately $170,750. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC bought a new position in shares of Medline in the fourth quarter worth approximately $25,000. Entrust Financial LLC bought a new position in shares of Medline in the fourth quarter worth approximately $26,000. NBC Securities Inc. bought a new position in shares of Medline in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC bought a new position in shares of Medline in the first quarter worth approximately $30,000. Finally, Global Retirement Partners LLC bought a new position in shares of Medline in the fourth quarter worth approximately $31,000.

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.