Medline (NASDAQ:MDLN) Receives $50.50 Average Target Price from Brokerages

Medline (NASDAQ:MDLN) has received an average recommendation of “Moderate Buy” from the twenty-eight research firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $50.50.

Several research firms recently commented on MDLN. Wells Fargo & Company boosted their price target on Medline from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Leerink Partners set a $56.00 target price on Medline in a research report on Wednesday, February 25th. Citigroup increased their target price on Medline from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Sanford C. Bernstein began coverage on shares of Medline in a research note on Monday, January 12th. They issued an “outperform” rating and a $49.00 price target for the company. Finally, Stifel Nicolaus set a $55.00 price objective on shares of Medline in a research note on Wednesday, February 25th.

Insiders Place Their Bets

In other news, Director Andrew J. Mills acquired 2,586,206 shares of Medline stock in a transaction that occurred on Thursday, December 18th. The shares were purchased at an average cost of $29.00 per share, for a total transaction of $74,999,974.00. Following the completion of the purchase, the director directly owned 2,586,206 shares of the company’s stock, valued at $74,999,974. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles N. Mills bought 2,579,310 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were 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 $70,799,991. This trade represents a -1,870.00% increase in their position. The SEC filing for this purchase provides additional information.

Institutional Trading of Medline

Hedge funds have recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in Medline during the 4th quarter valued at about $1,890,000. Chung Wu Investment Group LLC acquired a new stake in Medline in the 4th quarter valued at about $155,000. Vanguard Group Inc. bought a new stake in Medline during the fourth quarter worth approximately $793,278,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Medline during the fourth quarter worth $4,593,000. Finally, UBS Group AG purchased a new stake in Medline during the fourth quarter valued at about $54,707,000.

Medline Stock Performance

NASDAQ MDLN opened at $44.05 on Tuesday. The stock’s fifty day moving average price is $44.57. Medline has a 52 week low of $34.89 and a 52 week high of $50.88.

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

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.