Medline (NASDAQ:MDLN) Sets New 1-Year High – Should You Buy?

Medline (NASDAQ:MDLN) reached a new 52-week high on Wednesday . The company traded as high as $48.17 and last traded at $48.17, with a volume of 630501 shares trading hands. The stock had previously closed at $46.16.

Wall Street Analysts Forecast Growth

MDLN has been the topic of several analyst reports. BTIG Research reiterated a “buy” rating and issued a $55.00 price objective (up from $50.00) on shares of Medline in a research note on Wednesday, January 21st. Truist Financial started coverage on Medline in a research note on Monday, January 12th. They set a “buy” rating and a $52.00 price objective for the company. Wall Street Zen upgraded shares of Medline to a “hold” rating in a research note on Saturday, January 10th. Stifel Nicolaus assumed coverage on shares of Medline in a research report on Monday, January 12th. They set a “buy” rating and a $46.00 target price for the company. Finally, Piper Sandler assumed coverage on shares of Medline in a research report on Monday, January 12th. They issued an “overweight” rating and a $50.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.92.

Medline Trading Up 3.4%

The business has a fifty day moving average price of $43.58.

Insider Activity

In related news, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the business’s stock in a transaction that occurred 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 owned 4,806,160 shares in the company, valued at $136,350,759.20. The trade was a 55.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles N. Mills acquired 2,579,310 shares of Medline stock in a transaction on Thursday, December 18th. The shares were purchased at an average cost of $29.00 per share, for a total transaction of $74,799,990.00. Following the acquisition, the director owned 2,441,379 shares in the company, valued at approximately $70,799,991. This represents a -1,870.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Trading of Medline

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Carlyle Group Inc. acquired a new position in Medline during the 4th quarter valued at about $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new position in Medline in the fourth quarter valued at approximately $4,179,591,000. Vanguard Group Inc. acquired a new position in Medline in the fourth quarter valued at approximately $793,278,000. Morgan Stanley bought a new position in Medline in the fourth quarter valued at approximately $636,807,000. Finally, Capital Research Global Investors acquired a new stake in Medline during the 4th quarter worth $620,937,000.

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.