Medline (NASDAQ:MDLN) Stock Gets Downgrade from Zacks Research

Medline (NASDAQ:MDLN) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

Other research analysts have also recently issued research reports about the company. Tigress Financial cut their target price on Medline from $62.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. JPMorgan Chase & Co. decreased their price target on Medline from $53.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. UBS Group dropped their price objective on Medline from $45.00 to $43.00 and set a “buy” rating for the company in a report on Friday, September 25th. Stifel Nicolaus cut their price objective on Medline from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Wells Fargo & Company cut their price objective on Medline from $45.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.81.

Medline Price Performance

Medline stock opened at $35.31 on Tuesday. Medline has a 12-month low of $31.49 and a 12-month high of $50.88. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $34.75 and a 200-day moving average price of $37.99. The firm has a market capitalization of $46.42 billion and a PE ratio of 44.70.

Medline (NASDAQ:MDLN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.32 by $0.18. The firm had revenue of $7.68 billion for the quarter. As a group, equities research analysts forecast that Medline will post 1.51 EPS for the current year.

Insider Transactions at Medline

In other Medline news, major shareholder Private Ltd Gic sold 2,088,987 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $35.05, for a total value of $73,218,994.35. Following the transaction, the insider directly owned 16,453,806 shares in the company, valued at $576,705,900.30. This represents a 11.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 10,787,572 shares of company stock valued at $382,784,591. 0.81% of the stock is owned by insiders.

Institutional Trading of Medline

Several institutional investors and hedge funds have recently modified their holdings of MDLN. GAMMA Investing LLC boosted its holdings in shares of Medline by 68.3% in the second quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock valued at $25,000 after purchasing an additional 254 shares during the period. NewEdge Advisors LLC increased its holdings in Medline by 100.0% during the 2nd quarter. NewEdge Advisors LLC now owns 950 shares of the company’s stock worth $37,000 after purchasing an additional 475 shares during the period. Allworth Financial LP increased its holdings in Medline by 86.2% during the 2nd quarter. Allworth Financial LP now owns 1,052 shares of the company’s stock worth $41,000 after purchasing an additional 487 shares during the period. North Star Investment Management Corp. raised its position 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 purchasing an additional 512 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Medline during the 1st quarter valued at $30,000.

About Medline

Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.

Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.