Medline (NASDAQ:MDLN) Price Target Raised to $49.00

Medline (NASDAQ:MDLN) had its price target boosted by UBS Group from $43.00 to $49.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on MDLN. Citigroup upped their price target on shares of Medline from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen decreased their price target on shares of Medline from $53.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Bank of America lowered their price objective on shares of Medline from $53.00 to $46.00 in a research note on Thursday, August 6th. Barclays lowered their price objective on shares of Medline from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Finally, Zacks Research downgraded Medline from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Twenty-three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.08.

Medline Stock Performance

Shares of MDLN opened at $39.64 on Thursday. Medline has a 12-month low of $31.37 and a 12-month high of $50.88. The stock has a market cap of $52.12 billion and a P/E ratio of 90.09. The company has a current ratio of 4.04, a quick ratio of 2.61 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $34.78 and a two-hundred day moving average of $39.48.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.12. Medline had a return on equity of 8.21% and a net margin of 1.84%. The business had revenue of $7.86 billion for the quarter. As a group, research analysts predict that Medline will post 1.50 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Private Ltd Gic sold 2,088,987 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $35.05, for a total value of $73,218,994.35. Following the transaction, the insider owned 16,453,806 shares in the company, valued at approximately $576,705,900.30. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 7,948,676 shares of company stock worth $281,805,137 over the last 90 days. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medline

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in Medline by 8.4% in the first quarter. Janus Henderson Group PLC now owns 11,451,861 shares of the company’s stock worth $506,546,000 after acquiring an additional 887,240 shares during the last quarter. Banque Pictet & Cie SA grew its holdings in shares of Medline by 2.0% during the third quarter. Banque Pictet & Cie SA now owns 7,455,089 shares of the company’s stock valued at $258,692,000 after purchasing an additional 142,939 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Medline by 233.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,000,000 shares of the company’s stock valued at $222,500,000 after purchasing an additional 3,500,000 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Medline by 39,404.0% during the 1st quarter. Bessemer Group Inc. now owns 3,504,006 shares of the company’s stock worth $155,929,000 after purchasing an additional 3,495,136 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Medline by 30,255.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,700,425 shares of the company’s stock worth $94,353,000 after purchasing an additional 2,691,529 shares during the period.

More Medline News

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline reported Q3 EPS of $0.44, beating the $0.32 consensus estimate, with revenue of $7.86 billion. Shares gapped higher following the earnings report. Medline shares gap up following strong earnings
• Positive Sentiment: Analyst target increases add to the bullish outlook: UBS raised its target to $49 and maintained a Buy rating; Citi raised its target to $47 and kept Buy; and Leerink Partners lifted its target to $46 with an Outperform rating. UBS ratings Citi ratings Leerink Partners ratings
• Positive Sentiment: BTIG reaffirmed its Buy rating with a $55 target, while Barclays also assigned a Buy rating, adding to the favorable analyst sentiment. BTIG ratings Barclays rating
• Positive Sentiment: Medline plans price increases in 2027 to offset inflation, which could help protect revenue and profitability if customers accept the higher prices. Pricing plans and Q3 results

Medline Company Profile

Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations.

The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations.

Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.