Medline (NASDAQ:MDLN) Given Consensus Rating of “Moderate Buy” by Analysts

Medline (NASDAQ:MDLN) has earned a consensus recommendation of “Moderate Buy” from the twenty-nine research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, twenty-one have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $47.4231.

A number of research firms have recently commented on MDLN. BTIG Research restated a “buy” rating and set a $55.00 price target on shares of Medline in a research report on Thursday, August 27th. TD Cowen dropped their price objective on Medline from $53.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Tigress Financial reduced their target price on Medline from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft set a $37.00 target price on Medline in a research note on Thursday, August 6th. Finally, Truist Financial dropped their price target on Medline from $56.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, August 6th.

Medline Price Performance

MDLN stock opened at $31.64 on Friday. The firm has a 50 day moving average of $36.21 and a 200-day moving average of $39.27. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. Medline has a 12 month low of $31.49 and a 12 month high of $50.88. The firm has a market capitalization of $41.60 billion and a P/E ratio of 40.05.

Medline (NASDAQ:MDLN) last posted its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. The firm had revenue of $7.68 billion for the quarter. As a group, sell-side analysts predict that Medline will post 1.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medline news, major shareholder Private Ltd Gic sold 100,000 shares of Medline stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.80, for a total transaction of $3,580,000.00. Following the completion of the sale, the insider directly owned 22,802,482 shares in the company, valued at $816,328,855.60. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 4,438,896 shares of company stock valued at $158,259,454 over the last quarter. Company insiders own 0.81% of the company’s stock.

Institutional Trading of Medline

Hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors bought a new position in Medline in the fourth quarter valued at $620,937,000. Janus Henderson Group PLC lifted its stake in Medline by 8.4% during the first quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock worth $506,546,000 after purchasing an additional 887,240 shares during the last quarter. Norges Bank purchased a new position in shares of Medline in the 4th quarter worth about $210,000,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Medline by 233.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock worth $222,500,000 after purchasing an additional 3,500,000 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in shares of Medline during the 4th quarter valued at about $192,847,000.

About Medline

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies and clinical products. Its offerings include surgical and exam gloves, personal protective equipment, operating-room supplies, wound-care products, patient-care items, laboratory products, apparel, and durable medical equipment.

The company serves hospitals, health systems, ambulatory surgery centers, physicians’ offices, long-term-care facilities, home-health providers, and other healthcare organizations.