Medline (NASDAQ:MDLN) Given Buy Rating at BTIG Research

Medline (NASDAQ:MDLN)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $55.00 target price on the stock. BTIG Research’s price target suggests a potential upside of 40.59% from the company’s current price.

Several other brokerages have also issued reports on MDLN. Sanford C. Bernstein lowered their target price on Medline from $56.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. BNP Paribas Exane lowered their price objective on Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Tigress Financial boosted their price target on shares of Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft set a $42.00 target price on Medline in a research note on Thursday, May 7th. Finally, Weiss Ratings cut Medline from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Medline Trading Down 2.4%

Shares of Medline stock opened at $39.12 on Friday. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $51.39 billion and a P/E ratio of 122.25. The stock has a fifty day simple moving average of $38.04 and a 200 day simple moving average of $41.93. Medline has a 12-month low of $32.81 and a 12-month high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $7.35 billion for the quarter. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Medline will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Medline

In other Medline news, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $34.15 per share, with a total value of $170,750.00. Following the completion of the purchase, the insider owned 5,000 shares of the company’s stock, valued at approximately $170,750. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $36.77, for a total value of $3,677,000.00. Following the transaction, the insider owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This represents a 80.71% decrease in their position. The SEC filing for this sale provides additional information. 0.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Medline

Several institutional investors and hedge funds have recently modified their holdings of MDLN. GAMMA Investing LLC boosted its stake in shares of Medline by 68.3% during the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock valued at $25,000 after purchasing an additional 254 shares in the last quarter. North Star Investment Management Corp. raised its stake in Medline by 60.2% in the first quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock worth $61,000 after buying an additional 512 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Medline in the fourth quarter worth about $25,000. Entrust Financial LLC purchased a new stake in Medline in the fourth quarter worth about $26,000. Finally, NBC Securities Inc. bought a new stake in Medline during the 4th quarter valued at approximately $28,000.

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.