Medline (NASDAQ:MDLN) Receives $47.70 Consensus PT from Brokerages

Medline (NASDAQ:MDLN) has earned an average recommendation of “Moderate Buy” from the twenty-eight analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $47.9231.

A number of equities research analysts recently weighed in on the company. TD Cowen assumed coverage on Medline in a research report on Monday, January 12th. They set a “buy” rating on the stock. Leerink Partners began coverage on Medline in a research note on Monday, January 12th. They set an “outperform” rating and a $48.00 price target on the stock. BMO Capital Markets assumed coverage on Medline in a research note on Monday, January 12th. They issued an “outperform” rating and a $45.00 price objective for the company. Tigress Financial began coverage on shares of Medline in a report on Thursday. They issued a “buy” rating and a $55.00 price objective for the company. Finally, Truist Financial began coverage on shares of Medline in a report on Monday, January 12th. They set a “buy” rating and a $52.00 target price on the stock.

Medline Price Performance

Shares of Medline stock opened at $47.30 on Friday. Medline has a fifty-two week low of $34.89 and a fifty-two week high of $47.99.

Insider Buying and Selling

In related news, Director Charles N. Mills acquired 2,579,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average cost of $29.00 per share, for a total transaction of $74,799,990.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the firm’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 transaction, the insider owned 4,806,160 shares of the company’s stock, valued at approximately $136,350,759.20. The trade was a 55.88% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in shares of Medline during the fourth quarter valued at approximately $25,000. Entrust Financial LLC bought a new stake in Medline during the 4th quarter valued at $26,000. NBC Securities Inc. bought a new stake in Medline during the 4th quarter valued at $28,000. Global Retirement Partners LLC acquired a new position in Medline during the fourth quarter worth $31,000. Finally, North Star Investment Management Corp. bought a new position in shares of Medline in the fourth quarter valued at $36,000.

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.