Medline (NASDAQ:MDLN – Get Free Report) had its price objective dropped by TD Cowen from $53.00 to $45.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 33.16% from the company’s current price.
A number of other brokerages have also recently issued reports on MDLN. BMO Capital Markets restated an “outperform” rating and set a $47.00 target price on shares of Medline in a research report on Thursday. Robert W. Baird set a $42.00 price objective on shares of Medline in a research note on Thursday. Evercore set a $39.00 target price on Medline in a research note on Thursday. Tigress Financial raised their price target on Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft set a $37.00 price objective on Medline in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.46.
Get Our Latest Analysis on MDLN
Medline Price Performance
Medline (NASDAQ:MDLN – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.32 by $0.18. The business had revenue of $7.68 billion during the quarter. On average, sell-side analysts anticipate that Medline will post 1.49 earnings per share for the current year.
Insider Activity
In other news, insider Douglas P. Golwas sold 100,000 shares of Medline stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total value of $3,677,000.00. Following the completion of the sale, the insider owned 23,899 shares of the company’s stock, valued at $878,766.23. The trade was a 80.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Private Ltd Gic sold 271,994 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $35.33, for a total value of $9,609,548.02. Following the completion of the transaction, the insider owned 24,992,766 shares of the company’s stock, valued at $882,994,422.78. The trade was a 1.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,348,612 shares of company stock valued at $83,654,149 over the last quarter. Company insiders own 0.81% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of MDLN. Sound Income Strategies LLC purchased a new position in shares of Medline during the 4th quarter worth about $25,000. GAMMA Investing LLC increased its position in Medline by 68.3% during the second quarter. GAMMA Investing LLC now owns 626 shares of the company’s stock worth $25,000 after purchasing an additional 254 shares during the last quarter. Entrust Financial LLC purchased a new position in Medline during the fourth quarter worth approximately $26,000. NBC Securities Inc. acquired a new position in shares of Medline in the 4th quarter valued at $28,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Medline during the 1st quarter valued at $30,000.
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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