Norges Bank Buys New Shares in Medline $MDLN

Norges Bank bought a new stake in shares of Medline (NASDAQ:MDLN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,000,000 shares of the company’s stock, valued at approximately $210,000,000. Norges Bank owned about 0.38% of Medline as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new position in shares of Medline in the fourth quarter valued at about $25,000. Entrust Financial LLC purchased a new stake in shares of Medline during the fourth quarter worth about $26,000. NBC Securities Inc. bought a new stake in shares of Medline in the fourth quarter worth about $28,000. Global Retirement Partners LLC bought a new stake in shares of Medline in the fourth quarter worth about $31,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Medline in the fourth quarter worth about $36,000.

Analysts Set New Price Targets

MDLN has been the topic of several recent analyst reports. Tigress Financial raised their target price on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Barclays cut their target price on Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank Of Canada raised their target price on Medline from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Stifel Nicolaus set a $55.00 target price on shares of Medline in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company raised their target price on shares of Medline from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.65.

Medline Price Performance

Shares of NASDAQ MDLN opened at $33.19 on Wednesday. Medline has a 1 year low of $32.83 and a 1 year high of $50.88. The company’s 50-day simple moving average is $42.14.

Medline (NASDAQ:MDLN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $7.35 billion for the quarter. Medline’s revenue was up 10.7% compared to the same quarter last year. As a group, research analysts forecast that Medline will post 1.5 earnings per share for the current fiscal year.

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.