Medline (NASDAQ:MDLN) Price Target Raised to $52.00

Medline (NASDAQ:MDLN) had its price objective lifted by Morgan Stanley from $48.00 to $52.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on MDLN. Leerink Partners set a $56.00 target price on Medline in a report on Wednesday, February 25th. Zacks Research raised Medline to a “hold” rating in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft began coverage on Medline in a research note on Monday, January 12th. They issued a “hold” rating and a $40.00 target price on the stock. Piper Sandler assumed coverage on shares of Medline in a research note on Monday, January 12th. They set an “overweight” rating and a $50.00 price target for the company. Finally, Truist Financial initiated coverage on shares of Medline in a report on Monday, January 12th. They issued a “buy” rating and a $52.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Medline Stock Performance

Shares of MDLN stock opened at $42.88 on Monday. Medline has a 52 week low of $34.89 and a 52 week high of $50.88. The business’s 50 day moving average is $44.58.

Medline (NASDAQ:MDLN) last issued its quarterly earnings data 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 the consensus estimate of $7.52 billion. The firm’s quarterly revenue was up 14.8% on a year-over-year basis.

Insiders Place Their Bets

In other news, Director Andrew J. Mills bought 2,586,206 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average cost of $29.00 per share, for a total transaction of $74,999,974.00. Following the purchase, the director owned 2,586,206 shares of the company’s stock, valued at approximately $74,999,974. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles N. Mills purchased 2,579,310 shares of the stock in a transaction on Thursday, December 18th. The shares were acquired at an average cost of $29.00 per share, for a total transaction of $74,799,990.00. Following the transaction, the director owned 2,441,379 shares of the company’s stock, valued at approximately $70,799,991. The trade was a -1,870.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Investors Weigh In On Medline

A number of large investors have recently added to or reduced their stakes in MDLN. Sound Income Strategies LLC acquired a new stake in Medline during the 4th quarter valued at $25,000. Entrust Financial LLC acquired a new stake in shares of Medline during the 4th quarter worth about $26,000. NBC Securities Inc. bought a new stake in shares of Medline during the 4th quarter worth about $28,000. Global Retirement Partners LLC acquired a new position in Medline in the 4th quarter valued at about $31,000. Finally, North Star Investment Management Corp. acquired a new position in Medline in the 4th quarter valued at about $36,000.

About Medline

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.