Medline (NASDAQ:MDLN) Stock Moved Down to “Strong Sell” by Zacks Research

Medline (NASDAQ:MDLN) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.

A number of other analysts have also recently weighed in on MDLN. Royal Bank Of Canada decreased their price target on shares of Medline from $53.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Citigroup upgraded shares of Medline to a “strong-buy” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. reduced their target price on shares of Medline from $53.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, August 12th. Wells Fargo & Company decreased their target price on shares of Medline from $45.00 to $34.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 11th. Finally, TD Cowen decreased their target price on shares of Medline from $53.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.81.

Medline Stock Down 0.4%

Shares of MDLN opened at $35.31 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33. The company’s 50 day simple moving average is $34.75 and its 200-day simple moving average is $37.99. Medline has a 12-month low of $31.49 and a 12-month high of $50.88.

Medline (NASDAQ:MDLN) last announced its 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 business had revenue of $7.68 billion during the quarter. Sell-side analysts expect that Medline will post 1.51 earnings per share for the current year.

Insider Activity

In other news, major shareholder Private Ltd Gic sold 2,570,999 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $35.35, for a total value of $90,884,814.65. Following the transaction, the insider owned 20,231,483 shares of the company’s stock, valued at approximately $715,182,924.05. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 10,787,572 shares of company stock valued at $382,784,591 over the last quarter. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Medline

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in shares of Medline by 8.4% during the first quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock worth $506,546,000 after purchasing an additional 887,240 shares during the period. Banque Pictet & Cie SA grew its position in Medline by 2.0% in the 3rd quarter. Banque Pictet & Cie SA now owns 7,455,089 shares of the company’s stock valued at $258,692,000 after buying an additional 142,939 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Medline by 233.3% in the 1st 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 during the period. Bessemer Group Inc. increased its stake in Medline by 39,404.0% in the 1st 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 during the period. Finally, Unisphere Establishment raised its position in Medline by 50.5% during the 1st quarter. Unisphere Establishment now owns 2,482,500 shares of the company’s stock worth $110,471,000 after buying an additional 832,500 shares during the last quarter.

Medline Company Profile

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.