Medline (NASDAQ:MDLN) Coverage Initiated by Analysts at Citigroup

Key Points

• Citigroup initiated coverage with a "buy" rating and a $60 price target, implying roughly a 39.7% upside from the current share price.
• Medline missed Q earnings (reported ($0.01) EPS vs. $0.24 expected) but posted revenue of $7.79 billion, up 14.8% year‑over‑year and above estimates.
• Insider and institutional activity was notable: Hellman & Friedman sold about 6.09 million shares, director Andrew J. Mills purchased 2.586 million shares, and large firms (e.g., Carlyle, Vanguard, Morgan Stanley) established sizable new positions.

Stock analysts at Citigroup started coverage on shares of Medline (NASDAQ:MDLN - Get Free Report) in a note issued to investors on Wednesday. The brokerage set a "buy" rating and a $60.00 price target on the stock. Citigroup's price target would indicate a potential upside of 39.71% from the stock's current price.

A number of other research firms have also commented on MDLN. Zacks Research raised shares of Medline to a "hold" rating in a research note on Tuesday, January 13th. Evercore restated an "outperform" rating and set a $55.00 price target on shares of Medline in a report on Wednesday, February 25th. Wolfe Research started coverage on shares of Medline in a research report on Monday, January 12th. They issued an "outperform" rating and a $47.00 price target for the company. BTIG Research reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Medline in a research note on Monday. Finally, The Goldman Sachs Group initiated 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Medline presently has a consensus rating of "Moderate Buy" and an average price target of $50.62.

Medline Stock Up 0.2%

Shares of NASDAQ MDLN traded up $0.07 during mid-day trading on Wednesday, reaching $42.95. The company had a trading volume of 209,640 shares, compared to its average volume of 4,595,564. The business has a 50-day moving average price of $44.61. Medline has a 1-year low of $34.89 and a 1-year high of $50.88.

Medline (NASDAQ:MDLN - Get Free Report) last announced 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 firm had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.52 billion. Medline's quarterly revenue was up 14.8% compared to the same quarter last year.

Insider Activity

In other news, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $28.37, for a total value of $172,727,085.27. Following the completion of the sale, the insider directly owned 4,806,160 shares of the company's stock, valued at $136,350,759.20. This represents a 55.88% 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 this link. Also, Director Andrew J. Mills acquired 2,586,206 shares of the company's stock in a transaction on Thursday, December 18th. The stock was bought at an average price of $29.00 per share, for a total transaction of $74,999,974.00. Following the purchase, the director owned 2,586,206 shares in the company, valued at approximately $74,999,974. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MDLN. Carlyle Group Inc. acquired a new position in Medline during the 4th quarter worth $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new stake in shares of Medline in the fourth quarter valued at about $4,179,591,000. Vanguard Group Inc. bought a new position in shares of Medline in the fourth quarter worth about $793,278,000. Morgan Stanley bought a new position in shares of Medline in the fourth quarter worth about $636,807,000. Finally, Capital Research Global Investors acquired a new position in shares of Medline during the 4th quarter worth about $620,937,000.

Medline Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.