Medline (NASDAQ:MDLN) Shares Gap Down – Time to Sell?

Medline (NASDAQ:MDLN)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $42.04, but opened at $37.30. Medline shares last traded at $36.86, with a volume of 2,710,444 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. William Blair restated an “outperform” rating on shares of Medline in a research report on Thursday, June 4th. BTIG Research reissued a “buy” rating and set a $55.00 target price on shares of Medline in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a report on Thursday, May 7th. Robert W. Baird dropped their price objective on shares of Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Finally, Barclays cut their price objective on shares of Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

Medline Stock Performance

The firm has a fifty day moving average of $38.27 and a 200 day moving average of $41.88. 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 stock has a market capitalization of $46.81 billion and a price-to-earnings ratio of 111.34.

Medline (NASDAQ:MDLN) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. On average, sell-side analysts anticipate that Medline will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Medline

In related news, insider Douglas P. Golwas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the sale, the insider owned 23,899 shares in the company, valued at approximately $878,766.23. This trade represents a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessi L. Corcoran acquired 5,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the acquisition, the insider directly owned 5,000 shares of the company’s stock, valued at $170,750. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Medline

Institutional investors and hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC acquired a new position in Medline in the 4th quarter worth about $211,000. Sound Income Strategies LLC acquired a new stake in Medline in the fourth quarter valued at approximately $25,000. Massachusetts Financial Services Co. MA acquired a new stake in Medline in the fourth quarter valued at approximately $429,544,000. Baillie Gifford & Co. purchased a new stake in shares of Medline in the fourth quarter valued at approximately $437,236,000. Finally, Mass General Brigham Inc acquired a new position in shares of Medline during the 4th quarter worth approximately $1,104,000.

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.