BTIG Research Reaffirms “Buy” Rating for Medline (NASDAQ:MDLN)

Medline (NASDAQ:MDLN)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a report released on Monday,Benzinga reports. They presently have a $55.00 price objective on the stock. BTIG Research’s price objective would indicate a potential upside of 25.48% from the company’s current price.

Several other brokerages have also recently commented on MDLN. Wall Street Zen upgraded shares of Medline to a “hold” rating in a research note on Saturday, January 10th. Stifel Nicolaus set a $55.00 target price on shares of Medline in a research report on Wednesday, February 25th. Sanford C. Bernstein started coverage on shares of Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $49.00 target price for the company. BNP Paribas Exane started coverage on Medline in a research note on Monday, January 12th. They set a “neutral” rating and a $38.00 price target on the stock. Finally, TD Cowen started coverage on Medline in a report on Monday, January 12th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Medline Price Performance

NASDAQ:MDLN opened at $43.83 on Monday. Medline has a 1 year low of $34.89 and a 1 year high of $50.88. The business has a fifty day simple moving average of $44.57.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, February 25th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.25). The business had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.52 billion. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year.

Insider Activity at Medline

In other Medline news, Director Andrew J. Mills purchased 2,586,206 shares of Medline stock in a transaction on Thursday, December 18th. The shares were bought 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 of the company’s stock, valued at approximately $74,999,974. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $28.37, for a total transaction of $172,727,085.27. Following the completion of the sale, the insider owned 4,806,160 shares in the company, valued at $136,350,759.20. This represents a 55.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MDLN. Truist Financial Corp purchased a new position in Medline during the fourth quarter worth $240,000. DNB Asset Management AS acquired a new stake in shares of Medline during the fourth quarter valued at $4,517,000. Entrust Financial LLC purchased a new stake in Medline during the 4th quarter worth about $26,000. Charles Schwab Investment Management Inc. acquired a new position in Medline in the 4th quarter valued at about $32,762,000. Finally, UBS Group AG acquired a new position in Medline in the 4th quarter valued at about $54,707,000.

About Medline

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.