Medline (NASDAQ:MDLN) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Medline (NASDAQ:MDLN) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $39.53 and traded as high as $40.80. Medline shares last traded at $40.35, with a volume of 25,464,548 shares trading hands.

Medline News Roundup

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline reported Q3 EPS of $0.44, beating the $0.32 consensus estimate, with revenue of $7.86 billion. Shares gapped higher following the earnings report. Medline shares gap up following strong earnings
• Positive Sentiment: Analyst target increases add to the bullish outlook: UBS raised its target to $49 and maintained a Buy rating; Citi raised its target to $47 and kept Buy; and Leerink Partners lifted its target to $46 with an Outperform rating. UBS ratings Citi ratings Leerink Partners ratings
• Positive Sentiment: BTIG reaffirmed its Buy rating with a $55 target, while Barclays also assigned a Buy rating, adding to the favorable analyst sentiment. BTIG ratings Barclays rating
• Positive Sentiment: Medline plans price increases in 2027 to offset inflation, which could help protect revenue and profitability if customers accept the higher prices. Pricing plans and Q3 results

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BTIG Research reiterated a “buy” rating and set a $55.00 target price on shares of Medline in a research report on Thursday. Wells Fargo & Company decreased their target price on Medline from $45.00 to $34.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Stifel Nicolaus decreased their target price on Medline from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Weiss Ratings downgraded Medline from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Finally, TD Cowen cut their price target on Medline from $53.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Twenty-three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.08.

Medline Price Performance

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 has a market capitalization of $52.12 billion and a PE ratio of 90.09. The company’s 50-day simple moving average is $34.78 and its 200-day simple moving average is $39.48.

Medline (NASDAQ:MDLN) last announced its earnings results on Wednesday, November 4th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.12. The business had revenue of $7.86 billion for the quarter. As a group, sell-side analysts anticipate that Medline will post 1.49 earnings per share for the current year.

Insider Buying and Selling

In other Medline news, major shareholder Private Ltd Gic sold 2,088,987 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $35.05, for a total transaction of $73,218,994.35. Following the completion of the sale, the insider directly owned 16,453,806 shares of the company’s stock, valued at $576,705,900.30. This represents a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 7,948,676 shares of company stock worth $281,805,137. 0.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MDLN. Mass General Brigham Inc grew its holdings in Medline by 167.6% in the first quarter. Mass General Brigham Inc now owns 70,357 shares of the company’s stock valued at $3,131,000 after purchasing an additional 44,063 shares during the last quarter. Andra AP fonden purchased a new position in shares of Medline in the second quarter valued at $3,180,000. Cetera Investment Advisers increased its position in shares of Medline by 128.4% in the first quarter. Cetera Investment Advisers now owns 52,088 shares of the company’s stock valued at $2,318,000 after buying an additional 29,282 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Medline by 1,151.5% during the 2nd quarter. Baird Financial Group Inc. now owns 379,944 shares of the company’s stock worth $14,985,000 after buying an additional 349,584 shares during the last quarter. Finally, WINTON GROUP Ltd raised its stake in shares of Medline by 1,263.0% during the 2nd quarter. WINTON GROUP Ltd now owns 367,057 shares of the company’s stock worth $14,477,000 after buying an additional 340,127 shares during the last quarter.

About Medline

Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations.

The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations.

Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.