Medline (NASDAQ:MDLN) Given New $45.00 Price Target at TD Cowen

Medline (NASDAQ:MDLN) had its price target decreased by stock analysts at TD Cowen from $53.00 to $45.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 33.16% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $37.00 price objective on shares of Medline in a research report on Thursday. Citigroup lowered their price target on Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. BTIG Research restated a “buy” rating and issued a $55.00 price target on shares of Medline in a research report on Friday, July 31st. Sanford C. Bernstein decreased their price objective on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $47.00 target price on shares of Medline in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Medline currently has a consensus rating of “Moderate Buy” and an average price target of $48.46.

Medline Stock Performance

MDLN traded down $1.44 on Monday, reaching $33.80. The company had a trading volume of 2,451,808 shares, compared to its average volume of 7,342,126. The stock has a 50-day moving average price of $38.22 and a 200-day moving average price of $41.70. The stock has a market capitalization of $44.40 billion and a PE ratio of 105.46. Medline has a 1 year low of $32.81 and a 1 year high of $50.88. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. The firm had revenue of $7.68 billion during the quarter. As a group, research analysts forecast that Medline will post 1.49 EPS for the current fiscal year.

Insider Activity at Medline

In other Medline news, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the sale, the insider owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. The trade was a 80.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Private Ltd Gic sold 271,994 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $35.33, for a total value of $9,609,548.02. Following the transaction, the insider owned 24,992,766 shares in the company, valued at $882,994,422.78. The trade was a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,348,612 shares of company stock worth $83,654,149 over the last 90 days. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MDLN. Sound Income Strategies LLC purchased a new stake in shares of Medline during the 4th quarter worth $25,000. GAMMA Investing LLC increased its holdings in shares of Medline by 68.3% in the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock valued at $25,000 after purchasing an additional 254 shares in the last quarter. Entrust Financial LLC acquired a new stake in shares of Medline in the fourth quarter valued at about $26,000. NBC Securities Inc. purchased a new stake in Medline during the fourth quarter worth about $28,000. Finally, Whipplewood Advisors LLC acquired a new position in Medline during the first quarter worth about $30,000.

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.