Medline (NASDAQ:MDLN) Reaches New 1-Year High – Here’s Why

Medline (NASDAQ:MDLN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $46.66 and last traded at $46.31, with a volume of 5155775 shares trading hands. The stock had previously closed at $44.84.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDLN. Jefferies Financial Group initiated coverage on shares of Medline in a report on Monday, January 12th. They issued a “buy” rating and a $50.00 price target on the stock. Evercore ISI assumed coverage on shares of Medline in a research report on Monday, January 12th. They issued an “outperform” rating and a $50.00 price objective on the stock. Wall Street Zen raised shares of Medline to a “hold” rating in a research report on Saturday, January 10th. BNP Paribas Exane assumed coverage on shares of Medline in a report on Monday, January 12th. They issued a “neutral” rating and a $38.00 price target on the stock. Finally, Truist Financial started coverage on Medline in a research note on Monday, January 12th. They issued a “buy” rating and a $52.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Medline currently has a consensus rating of “Moderate Buy” and an average price target of $47.42.

Medline Stock Performance

Insider Buying and Selling at Medline

In related news, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $28.37, for a total value of $172,727,085.27. Following the completion of the transaction, the insider directly owned 4,806,160 shares in the company, valued at approximately $136,350,759.20. The trade was a 55.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew J. Mills acquired 2,586,206 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was purchased at an average price of $29.00 per share, with a total value of $74,999,974.00. Following the completion of the acquisition, the director directly owned 2,586,206 shares in the company, valued at approximately $74,999,974. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Trading of Medline

Several institutional investors have recently added to or reduced their stakes in the business. SteelPeak Wealth LLC bought a new position in shares of Medline during the fourth quarter valued at about $441,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Medline in the fourth quarter worth about $429,544,000. Comerica Bank purchased a new position in Medline during the 4th quarter valued at about $204,000. UBS Group AG bought a new position in Medline during the 4th quarter valued at approximately $54,707,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Medline in the 4th quarter worth approximately $4,593,000.

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.