Medline (NASDAQ:MDLN) Reaches New 1-Year High - Still a Buy?

Key Points

• Medline hit a new 52-week high of $46.08 (last $45.96) on strong volume, and recent analyst initiations have produced a consensus rating of Moderate Buy with an average price target of $47.42 (individual targets range up to $50).
• There was notable insider and institutional activity: Hellman & Friedman sold about 6.09M shares (reducing its stake by ~55.9%), director Charles N. Mills bought ~2.58M shares at $29, and Massachusetts Financial Services established a roughly $429.5M position.

Medline (NASDAQ:MDLN - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $46.08 and last traded at $45.96, with a volume of 2490235 shares. The stock had previously closed at $43.30.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MDLN. Stifel Nicolaus started coverage on Medline in a research note on Monday, January 12th. They issued a "buy" rating and a $46.00 price target on the stock. Piper Sandler assumed coverage on Medline in a research note on Monday, January 12th. They issued an "overweight" rating and a $50.00 price objective for the company. William Blair assumed coverage on Medline in a report on Monday, January 12th. They issued an "outperform" rating on the stock. TD Cowen initiated coverage on shares of Medline in a research note on Monday, January 12th. They issued a "buy" rating for the company. Finally, Wells Fargo & Company assumed coverage on shares of Medline in a report on Monday, January 12th. They set an "equal weight" rating and a $42.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $47.42.

Medline Stock Performance

Insider Buying and Selling at Medline

In related news, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the company's stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $28.37, for a total value of $172,727,085.27. Following the sale, the insider owned 4,806,160 shares of the company's stock, valued at approximately $136,350,759.20. This represents a 55.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles N. Mills bought 2,579,310 shares of Medline stock in a transaction on Thursday, December 18th. The stock was purchased at an average price of $29.00 per share, for a total transaction of $74,799,990.00. Following the completion of the acquisition, the director owned 2,441,379 shares in the company, valued at $70,799,991. This represents a -1,870.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Investors Weigh In On Medline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new position in shares of Medline during the 4th quarter valued at approximately $25,000. Perigon Wealth Management LLC bought a new stake in shares of Medline in the fourth quarter worth $211,000. SteelPeak Wealth LLC acquired a new stake in Medline in the fourth quarter valued at $441,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Medline during the 4th quarter valued at $429,544,000.

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.

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