Medline (NASDAQ:MDLN) Given Average Recommendation of “Moderate Buy” by Analysts

Medline (NASDAQ:MDLN) has earned an average rating of “Moderate Buy” from the twenty-nine ratings firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $50.6154.

MDLN has been the topic of several analyst reports. Mizuho began coverage on Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $48.00 target price on the stock. Citigroup assumed coverage on shares of Medline in a research note on Wednesday, March 11th. They set a “buy” rating and a $60.00 price objective for the company. Wolfe Research began coverage on shares of Medline in a research note on Monday, January 12th. They issued an “outperform” rating and a $47.00 target price on the stock. Evercore restated an “outperform” rating and issued a $55.00 price objective on shares of Medline in a report on Wednesday, February 25th. Finally, BNP Paribas Exane started coverage on Medline in a research note on Monday, January 12th. They set a “neutral” rating and a $38.00 target price on the stock.

Medline Stock Performance

Shares of MDLN opened at $41.36 on Friday. Medline has a fifty-two week low of $34.89 and a fifty-two week high of $50.88. The business has a 50-day simple moving average of $44.75.

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

Institutional Trading of Medline

A number of institutional investors have recently made changes to their positions in the stock. Perigon Wealth Management LLC purchased a new position in shares of Medline during the fourth quarter valued at approximately $211,000. SteelPeak Wealth LLC bought a new position in shares of Medline during the 4th quarter valued at $441,000. Sound Income Strategies LLC purchased a new position in shares of Medline in the 4th quarter worth $25,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Medline in the fourth quarter worth $429,544,000. Finally, Baillie Gifford & Co. purchased a new stake in Medline during the fourth quarter valued at $437,236,000.

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.