Medline (NASDAQ:MDLN) Stock Has Average Target Price of $46.81

Key Points

• Analysts maintain a “Moderate Buy” consensus on Medline, with 21 buy, two strong-buy, five hold and one sell rating among 29 analysts. The average 12-month price target is $46.81 versus the stock’s $35.70 opening price.
• Medline reported quarterly EPS of $0.50, exceeding the $0.32 analyst consensus, on revenue of $7.68 billion. Analysts expect full-year EPS of approximately $1.51.
• The stock has traded between $31.49 and $50.88 over the past year, while insiders sold about $382.8 million worth of shares over the last three months.

Shares of Medline (NASDAQ:MDLN - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-nine analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twenty-one have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $46.81.

A number of brokerages have weighed in on MDLN. TD Cowen reduced their target price on Medline from $53.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Truist Financial decreased their price target on Medline from $56.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $37.00 price target on Medline in a report on Thursday, August 6th. JPMorgan Chase & Co. dropped their price objective 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, William Blair reaffirmed an "outperform" rating on shares of Medline in a research note on Wednesday, September 23rd.

Medline Stock Performance

NASDAQ MDLN opened at $35.70 on Wednesday. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $46.94 billion and a price-to-earnings ratio of 45.19. The firm's 50 day simple moving average is $34.67 and its 200 day simple moving average is $38.30. Medline has a 1 year low of $31.49 and a 1 year high of $50.88.

Medline (NASDAQ:MDLN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.18. The firm had revenue of $7.68 billion during the quarter. As a group, research analysts expect that Medline will post 1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Medline news, major shareholder Private Ltd Gic sold 2,570,999 shares of the business's stock in a transaction dated 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 owned 20,231,483 shares of the company's stock, valued at approximately $715,182,924.05. The trade was a 11.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 10,787,572 shares of company stock worth $382,784,591 over the last three months. 0.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Medline

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Medline by 68.3% in the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the company's stock valued at $25,000 after buying an additional 254 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Medline during the 1st quarter worth approximately $30,000. NewEdge Advisors LLC grew its holdings in Medline by 100.0% during the 2nd quarter. NewEdge Advisors LLC now owns 950 shares of the company's stock worth $37,000 after acquiring an additional 475 shares during the last quarter. Allworth Financial LP increased its position in Medline by 86.2% in the 2nd quarter. Allworth Financial LP now owns 1,052 shares of the company's stock valued at $41,000 after acquiring an additional 487 shares during the period. Finally, Whittier Trust Co. acquired a new position in Medline in the 1st quarter valued at approximately $49,000.

About Medline

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies, clinical products and equipment to hospitals, health systems, physician practices, long-term care facilities, surgery centers and other healthcare providers. Its offerings are designed to support patient care, surgical procedures, infection prevention and healthcare facility operations.

The company's product portfolio includes surgical instruments and supplies, exam gloves and protective apparel, wound care products, patient-care items, respiratory and monitoring equipment, laboratory supplies, durable medical equipment and products for environmental and facility management.

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