Medline (NASDAQ:MDLN) Price Target Lowered to $55.00 at Tigress Financial

Medline (NASDAQ:MDLN) had its price objective reduced by Tigress Financial from $62.00 to $55.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Tigress Financial’s price target would indicate a potential upside of 59.99% from the stock’s current price.

Several other research analysts have also recently weighed in on MDLN. TD Cowen lowered their target price on Medline from $53.00 to $45.00 and set a “buy” rating on the stock in a report on Monday. BTIG Research reiterated a “buy” rating and set a $55.00 price objective on shares of Medline in a research report on Friday, July 31st. Sanford C. Bernstein cut their target price on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. BNP Paribas Exane reduced their target price on shares of Medline from $49.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, Citigroup upgraded Medline to a “strong-buy” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Medline presently has an average rating of “Moderate Buy” and an average target price of $47.69.

Medline Price Performance

Medline stock traded up $0.57 during midday trading on Tuesday, reaching $34.38. The company had a trading volume of 2,660,878 shares, compared to its average volume of 7,363,119. Medline has a 12-month low of $32.81 and a 12-month high of $50.88. The firm’s fifty day simple moving average is $38.18 and its 200-day simple moving average is $41.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61. The company has a market capitalization of $45.16 billion and a P/E ratio of 107.44.

Medline (NASDAQ:MDLN) last issued its 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 during the quarter. As a group, equities analysts anticipate that Medline will post 1.49 EPS for the current year.

Insider Transactions at Medline

In other news, insider Jessi L. Corcoran bought 5,000 shares of Medline stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of $34.15 per share, with a total value of $170,750.00. Following the acquisition, the insider owned 5,000 shares of the company’s stock, valued at approximately $170,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas P. Golwas sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was 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 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. Over the last 90 days, insiders have sold 2,938,896 shares of company stock worth $104,656,454. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Medline

Institutional investors and hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new stake in Medline during the 4th quarter worth $25,000. Mass General Brigham Inc acquired a new stake in shares of Medline during the fourth quarter worth about $1,104,000. WPG Advisers LLC purchased a new position in shares of Medline during the fourth quarter worth about $38,000. Nadler Financial Group Inc. acquired a new position in Medline in the 4th quarter valued at about $354,000. Finally, NBC Securities Inc. purchased a new stake in Medline during the 4th quarter valued at approximately $28,000.

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.