Medline (NASDAQ:MDLN) Price Target Raised to $60.00 at Tigress Financial

Key Points

• Tigress Financial raised its price target to $60 (from $55) and maintained a "buy" rating, implying about a 38.6% upside
• Medline missed quarterly EPS (‑$0.01 vs. $0.24 expected) but beat revenue expectations with $7.79 billion in sales, a 14.8% year‑over‑year increase.
• Director Charles N. Mills bought 2.58M shares

Medline (NASDAQ:MDLN - Get Free Report) had its price target increased by Tigress Financial from $55.00 to $60.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Tigress Financial's price target points to a potential upside of 38.63% from the company's current price.

Other analysts have also issued reports about the stock. Robert W. Baird initiated coverage on shares of Medline in a research report on Monday, January 12th. They set an "outperform" rating and a $48.00 price target for the company. BTIG Research reissued a "buy" rating and issued a $55.00 target price on shares of Medline in a research note on Monday. Leerink Partners set a $56.00 target price on Medline in a report on Wednesday, February 25th. Barclays initiated coverage on Medline in a research report on Monday, January 12th. They set an "overweight" rating and a $50.00 price target on the stock. Finally, Citigroup boosted their price objective on Medline from $48.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Medline presently has an average rating of "Moderate Buy" and a consensus target price of $50.69.

Medline Price Performance

Medline stock traded down $0.55 during mid-day trading on Monday, hitting $43.28. 2,037,488 shares of the company traded hands, compared to its average volume of 4,579,271. Medline has a one year low of $34.89 and a one year high of $50.88. The business's fifty day moving average price is $44.57.

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

Insider Activity

In related news, Director Charles N. Mills purchased 2,579,310 shares of the company's stock in a transaction dated Thursday, December 18th. The shares were purchased at an average cost of $29.00 per share, with a total value of $74,799,990.00. Following the transaction, the director directly owned 2,441,379 shares in the company, valued at $70,799,991. This trade represents a -1,870.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the firm's 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 transaction, the insider directly 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 disclosure for this sale is available in the SEC filing.

Institutional Trading of Medline

Several institutional investors have recently bought and sold shares of MDLN. Sound Income Strategies LLC purchased a new position in Medline in the fourth quarter worth about $25,000. Entrust Financial LLC purchased a new stake in shares of Medline during the fourth quarter valued at approximately $26,000. NBC Securities Inc. bought a new stake in shares of Medline during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC purchased a new position in Medline in the 4th quarter worth approximately $31,000. Finally, North Star Investment Management Corp. bought a new position in Medline in the 4th quarter valued at approximately $36,000.

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.

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