Medline (NASDAQ:MDLN) Price Target Cut to $45.00 by Analysts at Mizuho

Key Points

• Mizuho cut Medline’s price target from $48 to $45 while maintaining an “outperform” rating, implying 27.44% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $46.69, despite mixed individual recommendations.
• Medline’s shares opened at $35.31 and recently traded down 0.4%; the company reported quarterly EPS of $0.50, beating estimates of $0.32, on $7.68 billion in revenue.

Medline (NASDAQ:MDLN - Get Free Report) had its target price cut by research analysts at Mizuho from $48.00 to $45.00 in a report issued on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price target points to a potential upside of 27.44% from the company's previous close.

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of Medline from a "hold" rating to a "strong sell" rating in a report on Tuesday. BTIG Research reaffirmed a "buy" rating and set a $55.00 price target on shares of Medline in a research report on Thursday, August 27th. UBS Group lowered their price objective on Medline from $45.00 to $43.00 and set a "buy" rating for the company in a report on Friday, September 25th. JPMorgan Chase & Co. decreased their target price on Medline from $53.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, August 12th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $47.00 price target on shares of Medline in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.69.

Medline Trading Down 0.4%

NASDAQ:MDLN opened at $35.31 on Thursday. The business's 50-day moving average is $34.75 and its two-hundred day moving average is $37.99. The firm has a market capitalization of $46.42 billion and a PE ratio of 44.70. Medline has a 12 month low of $31.49 and a 12 month high of $50.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61.

Medline (NASDAQ:MDLN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.18. The firm had revenue of $7.68 billion during the quarter. Research analysts predict that Medline will post 1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Private Ltd Gic sold 2,570,999 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $35.35, for a total transaction of $90,884,814.65. Following the completion of the transaction, the insider directly owned 20,231,483 shares of the company's stock, valued at approximately $715,182,924.05. This represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 10,787,572 shares of company stock valued at $382,784,591 in the last three months. Insiders own 0.81% of the company's stock.

Institutional Trading of Medline

A number of institutional investors and hedge funds have recently made changes to their positions in MDLN. GAMMA Investing LLC increased its position in Medline by 68.3% in the second quarter. GAMMA Investing LLC now owns 626 shares of the company's stock worth $25,000 after buying an additional 254 shares during the period. Whipplewood Advisors LLC bought a new stake in Medline in the 1st quarter valued at about $30,000. Reyes Financial Architecture Inc. acquired a new position in Medline during the 3rd quarter valued at about $30,000. NewEdge Advisors LLC increased its stake in shares of Medline by 100.0% in the second quarter. NewEdge Advisors LLC now owns 950 shares of the company's stock valued at $37,000 after purchasing an additional 475 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Medline by 86.2% during the second quarter. Allworth Financial LP now owns 1,052 shares of the company's stock valued at $41,000 after buying an additional 487 shares during the last quarter.

Medline Company Profile

Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.

Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.

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