Medline (NASDAQ:MDLN) Insider Jessi Corcoran Purchases 5,000 Shares

Medline (NASDAQ:MDLN) insider Jessi Corcoran bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price 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 of the company’s stock, valued at $170,750. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Medline Stock Performance

Shares of NASDAQ MDLN opened at $36.01 on Wednesday. The company has a fifty day moving average price of $41.18. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. Medline has a one year low of $32.81 and a one year high of $50.88.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. Medline’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts predict that Medline will post 1.51 earnings per share for the current year.

Medline News Summary

Here are the key news stories impacting Medline this week:

• Positive Sentiment: Medline completed a major debt refinancing, including new senior secured notes and a new term loan facility, which should reduce near-term funding uncertainty and support liquidity. Medline shares rise as investors digest recent refinancing and large secondary offering
• Positive Sentiment: Investors may also be responding favorably to the fact that the large 72.6 million-share secondary offering was sold by existing shareholders, meaning it was not a primary dilution event for the company itself. Medline shares rise as investors digest recent refinancing and large secondary offering
• Positive Sentiment: Recent insider buying, including a purchase by Principal Accounting Officer Jessi L. Corcoran, may be helping sentiment by signaling internal confidence. MarketBeat MDLN news
• Neutral Sentiment: Medline presented at the Goldman Sachs 47th Annual Global Healthcare Conference, which may have helped keep attention on the company but did not include a clear new catalyst in the provided details. Medline conference transcript
• Neutral Sentiment: Medline is also expanding its manufacturing footprint in Slovakia, a longer-term growth initiative that is supportive but not an immediate stock-moving event. Medline expands manufacturing footprint in Slovakia
• Negative Sentiment: Ongoing securities-fraud investigation headlines could weigh on shares by raising legal and disclosure-risk concerns, even if no wrongdoing has been proven. Securities fraud investigation announced
• Negative Sentiment: Analyst commentary has turned a bit more cautious, with Barclays recently trimming its price target to $45 from $50 due to margin-pressure concerns. Medline analyst coverage article

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. North Star Investment Management Corp. raised its stake in Medline by 60.2% during the first quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock worth $61,000 after acquiring an additional 512 shares in the last quarter. Sound Income Strategies LLC bought a new position in Medline in the fourth quarter valued at about $25,000. Entrust Financial LLC bought a new position in Medline during the fourth quarter worth about $26,000. NBC Securities Inc. bought a new position in Medline during the fourth quarter worth about $28,000. Finally, Whipplewood Advisors LLC bought a new position in Medline during the first quarter worth about $30,000.

Analysts Set New Price Targets

A number of brokerages recently commented on MDLN. Robert W. Baird cut their target price on Medline from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Citigroup cut their target price on Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Tigress Financial increased their price objective on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Morgan Stanley increased their price objective on Medline from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Finally, Royal Bank Of Canada increased their price objective on Medline from $47.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.54.

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.