Medline (NASDAQ:MDLN) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Medline (NASDAQ:MDLN) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on MDLN. BTIG Research reiterated a “buy” rating and issued a $55.00 price target on shares of Medline in a research note on Thursday. Evercore set a $39.00 price objective on shares of Medline in a research note on Thursday, August 6th. Truist Financial decreased their target price on shares of Medline from $56.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Tigress Financial decreased their target price on shares of Medline from $62.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Mizuho dropped their target price on shares of Medline from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Twenty-three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.08.

Medline Trading Down 0.3%

Medline stock opened at $39.64 on Friday. The company has a current ratio of 4.04, a quick ratio of 2.61 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $34.78 and its two-hundred day simple moving average is $39.48. Medline has a 12 month low of $31.37 and a 12 month high of $50.88. The company has a market capitalization of $52.12 billion and a price-to-earnings ratio of 90.09.

Medline (NASDAQ:MDLN) last released its earnings results on Wednesday, November 4th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.12. Medline had a return on equity of 8.21% and a net margin of 1.84%. The firm had revenue of $7.86 billion for the quarter. As a group, equities analysts predict that Medline will post 1.50 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Medline news, major shareholder Private Ltd Gic sold 2,088,987 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $35.05, for a total value of $73,218,994.35. Following the completion of the transaction, the insider owned 16,453,806 shares of the company’s stock, valued at approximately $576,705,900.30. The trade was a 11.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 7,948,676 shares of company stock valued at $281,805,137. 0.81% of the stock is currently owned by company insiders.

Institutional Trading of Medline

A number of institutional investors have recently made changes to their positions in MDLN. Mawer Investment Management Ltd. raised its holdings in shares of Medline by 115.1% during the third quarter. Mawer Investment Management Ltd. now owns 1,808,153 shares of the company’s stock valued at $62,743,000 after purchasing an additional 967,587 shares during the last quarter. Aberdeen Group plc bought a new position in Medline during the third quarter valued at approximately $1,270,000. Russell Investments Group Ltd. boosted its holdings in Medline by 4.1% in the third quarter. Russell Investments Group Ltd. now owns 310,908 shares of the company’s stock worth $10,789,000 after purchasing an additional 12,124 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in Medline by 17.4% in the third quarter. Maryland State Retirement & Pension System now owns 27,149 shares of the company’s stock worth $942,000 after purchasing an additional 4,029 shares during the last quarter. Finally, Jefferies Financial Group Inc. boosted its holdings in Medline by 330.3% in the third quarter. Jefferies Financial Group Inc. now owns 100,000 shares of the company’s stock worth $3,470,000 after purchasing an additional 76,761 shares during the last quarter.

Medline News Roundup

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline reported Q3 EPS of $0.44, beating the $0.32 consensus estimate, with revenue of $7.86 billion. Shares gapped higher following the earnings report. Medline shares gap up following strong earnings
• Positive Sentiment: Analyst target increases add to the bullish outlook: UBS raised its target to $49 and maintained a Buy rating; Citi raised its target to $47 and kept Buy; and Leerink Partners lifted its target to $46 with an Outperform rating. UBS ratings Citi ratings Leerink Partners ratings
• Positive Sentiment: BTIG reaffirmed its Buy rating with a $55 target, while Barclays also assigned a Buy rating, adding to the favorable analyst sentiment. BTIG ratings Barclays rating
• Positive Sentiment: Medline plans price increases in 2027 to offset inflation, which could help protect revenue and profitability if customers accept the higher prices. Pricing plans and Q3 results

Medline Company Profile

Medline is a healthcare products manufacturer and distributor serving providers across the care continuum. Its customers include hospitals, surgery centers, physician practices, long-term care facilities and home-care organizations.

The company offers a broad range of medical and surgical supplies, including products for infection prevention, wound care and patient care, as well as apparel and equipment. Medline also provides supply-chain and logistics services to healthcare organizations.

Founded in 1966, Medline is headquartered in Northfield, Illinois, and serves customers in the United States and internationally.