Medline (NASDAQ:MDLN) Receives Buy Rating from BTIG Research

BTIG Research reaffirmed their buy rating on shares of Medline (NASDAQ:MDLN) in a report released on Monday morning,Benzinga reports. The brokerage currently has a $55.00 price objective on the stock.

MDLN has been the subject of several other research reports. Zacks Research upgraded Medline to a “hold” rating in a research note on Tuesday, January 13th. The Goldman Sachs Group assumed coverage on shares of Medline in a research note on Monday, January 12th. They set a “buy” rating and a $49.00 target price on the stock. Sanford C. Bernstein assumed coverage on shares of Medline in a report on Monday, January 12th. They issued an “outperform” rating and a $49.00 target price on the stock. JPMorgan Chase & Co. set a $55.00 price target on shares of Medline in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Medline to a “hold” rating in a report on Saturday, January 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.69.

Medline Stock Performance

Shares of NASDAQ MDLN opened at $43.41 on Monday. The company has a fifty day moving average of $44.59. Medline has a 12-month low of $34.89 and a 12-month high of $50.88.

Medline (NASDAQ:MDLN) last released its earnings results on Wednesday, February 25th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.25). The company had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.52 billion. The firm’s revenue was up 14.8% compared to the same quarter last year.

Insider Transactions at Medline

In other news, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the firm’s stock in a transaction dated 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 owned 4,806,160 shares of the company’s stock, valued at approximately $136,350,759.20. This trade represents a 55.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles N. Mills bought 2,579,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average price of $29.00 per share, with a total value of $74,799,990.00. Following the purchase, the director owned 2,441,379 shares of the company’s stock, valued at $70,799,991. The trade was a -1,870.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Hedge Funds Weigh In On Medline

Several hedge funds have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. acquired a new stake in Medline during the 4th quarter worth approximately $36,000. Pictet Asset Management Holding SA acquired a new position in shares of Medline in the fourth quarter valued at approximately $48,996,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Medline in the fourth quarter valued at approximately $2,768,000. Vanguard Group Inc. purchased a new stake in shares of Medline during the fourth quarter worth approximately $793,278,000. Finally, NBC Securities Inc. acquired a new stake in shares of Medline during the fourth quarter worth $28,000.

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.