Medline (NASDAQ:MDLN) Sees Strong Trading Volume – Time to Buy?

Medline (NASDAQ:MDLN) shares saw unusually-strong trading volume on Friday . Approximately 9,930,552 shares were traded during trading, an increase of 68% from the previous session’s volume of 5,913,535 shares.The stock last traded at $37.9760 and had previously closed at $37.10.

Analyst Ratings Changes

Several brokerages have issued reports on MDLN. Sanford C. Bernstein lowered their price objective on shares of Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Wells Fargo & Company raised their price target on shares of Medline from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Royal Bank Of Canada raised their price target on shares of Medline from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Citigroup decreased their price target on shares of Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Weiss Ratings cut Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.85.

Medline Price Performance

The stock has a 50 day moving average price of $42.93.

Medline (NASDAQ:MDLN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $7.35 billion during the quarter. The business’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Medline will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On Medline

Several institutional investors and hedge funds have recently bought and sold shares of the business. North Star Investment Management Corp. grew its stake in Medline by 60.2% during the 1st quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock valued at $61,000 after acquiring an additional 512 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Medline during the 4th quarter valued at about $25,000. Entrust Financial LLC purchased a new position in Medline during the 4th quarter valued at about $26,000. NBC Securities Inc. purchased a new position in Medline during the 4th quarter valued at about $28,000. Finally, Whipplewood Advisors LLC purchased a new position in Medline during the 1st quarter valued at about $30,000.

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.