Medline (NASDAQ:MDLN) Reaches New 12-Month High – Should You Buy?

Medline (NASDAQ:MDLN) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $47.68 and last traded at $47.33, with a volume of 155406 shares trading hands. The stock had previously closed at $46.20.

Wall Street Analysts Forecast Growth

MDLN has been the subject of a number of analyst reports. TD Cowen initiated coverage on Medline in a report on Monday, January 12th. They set a “buy” rating for the company. Jefferies Financial Group started coverage on Medline in a research report on Monday, January 12th. They issued a “buy” rating and a $50.00 price target for the company. Rothschild & Co Redburn set a $42.00 price objective on Medline in a research note on Monday, January 12th. Piper Sandler started coverage on Medline in a research note on Monday, January 12th. They issued an “overweight” rating and a $50.00 target price on the stock. Finally, Evercore initiated coverage on shares of Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $50.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Medline Trading Up 2.4%

Insider Transactions at Medline

In related news, Director Charles N. Mills bought 2,579,310 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was bought at an average cost of $29.00 per share, for a total transaction of $74,799,990.00. Following the purchase, the director directly owned 2,441,379 shares of the company’s stock, valued at approximately $70,799,991. This trade represents a -1,870.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $28.37, for a total transaction of $172,727,085.27. Following the sale, the insider directly owned 4,806,160 shares in the company, valued at approximately $136,350,759.20. This represents a 55.88% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On Medline

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. purchased a new stake in shares of Medline during the fourth quarter valued at $793,278,000. Baillie Gifford & Co. acquired a new stake in Medline during the 4th quarter worth about $437,236,000. Massachusetts Financial Services Co. MA purchased a new stake in Medline during the 4th quarter valued at about $429,544,000. UBS Group AG acquired a new position in shares of Medline in the fourth quarter valued at about $54,707,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Medline in the fourth quarter valued at about $48,996,000.

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.