Medline (NASDAQ:MDLN) Stock Gets Price Target Trim from Mizuho

Medline (NASDAQ:MDLN) had its target price reduced by Mizuho from $48.00 to $45.00 in a research report sent to investors on Thursday, Marketbeat.com reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also issued reports on MDLN. TD Cowen decreased their target price on shares of Medline from $53.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft set a $37.00 price target on shares of Medline and gave the stock a “hold” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reduced their price target on shares of Medline from $53.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. BTIG Research reaffirmed a “buy” rating and issued a $55.00 price target on shares of Medline in a research note on Thursday, August 27th. Finally, Weiss Ratings cut shares of Medline from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Medline currently has a consensus rating of “Moderate Buy” and an average price target of $46.54.

Medline Trading Down 2.3%

Shares of MDLN stock opened at $34.09 on Thursday. Medline has a 1 year low of $31.49 and a 1 year high of $50.88. The firm has a market capitalization of $44.82 billion and a PE ratio of 43.15. The stock has a fifty day moving average of $34.70 and a two-hundred day moving average of $37.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.61 and a current ratio of 4.33.

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

Insider Buying and Selling

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 completion of the sale, the insider directly owned 16,453,806 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders have sold 10,787,572 shares of company stock valued at $382,784,591 in the last quarter. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medline

Hedge funds have recently made changes to their positions in the business. Washington Trust Advisors Inc. boosted its holdings in shares of Medline by 22.7% in the third quarter. Washington Trust Advisors Inc. now owns 167,085 shares of the company’s stock worth $5,798,000 after buying an additional 30,906 shares during the period. Inspire Investing LLC purchased a new position in shares of Medline in the third quarter worth approximately $2,274,000. Reyes Financial Architecture Inc. acquired a new stake in shares of Medline during the third quarter valued at approximately $30,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Medline by 14.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,856,810 shares of the company’s stock valued at $64,431,000 after acquiring an additional 229,817 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its position in shares of Medline by 2.0% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 404,883 shares of the company’s stock valued at $14,049,000 after acquiring an additional 7,850 shares in the last quarter.

Medline Company Profile

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.