Medline’s (MDLN) Buy Rating Reaffirmed at BTIG Research

BTIG Research restated their buy rating on shares of Medline (NASDAQ:MDLN) in a research report report published on Friday,Benzinga reports. The brokerage currently has a $55.00 price objective on the stock.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft set a $42.00 price target on Medline in a research note on Thursday, May 7th. Robert W. Baird decreased their price objective on Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. William Blair restated an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Citigroup cut their target price on Medline from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, BNP Paribas Exane reduced their price target on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Medline currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.54.

Medline Trading Up 0.4%

NASDAQ:MDLN opened at $39.28 on Friday. Medline has a 12 month low of $32.81 and a 12 month high of $50.88. 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 stock has a market capitalization of $51.60 billion and a price-to-earnings ratio of 122.75. The firm has a fifty day simple moving average of $38.09 and a two-hundred day simple moving average of $41.91.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion for the quarter. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts expect that Medline will post 1.49 EPS for the current fiscal year.

Insider Activity

In related news, insider Jessi L. Corcoran acquired 5,000 shares of the stock in a transaction dated Friday, June 5th. The stock was 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 directly owned 5,000 shares in the company, valued at $170,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas P. Golwas sold 100,000 shares of the firm’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 completion of the transaction, the insider owned 23,899 shares in the company, valued at $878,766.23. This represents a 80.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Medline

Institutional investors have recently bought and sold shares of the stock. Sound Income Strategies LLC purchased a new stake in Medline in the 4th quarter valued at $25,000. GAMMA Investing LLC boosted its holdings in Medline by 68.3% during the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock worth $25,000 after acquiring an additional 254 shares during the last quarter. Entrust Financial LLC bought a new stake in shares of Medline in the 4th quarter worth $26,000. NBC Securities Inc. bought a new stake in shares of Medline in the 4th quarter worth $28,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Medline in the first quarter valued at about $30,000.

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.