Medline (NASDAQ:MDLN) Price Target Lowered to $55.00 at Tigress Financial

Medline (NASDAQ:MDLNGet Free Report) had its price objective lowered by equities research analysts at Tigress Financial from $62.00 to $55.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Tigress Financial’s price objective suggests a potential upside of 59.99% from the stock’s current price.

A number of other research analysts have also recently commented on MDLN. William Blair reaffirmed an “outperform” rating on shares of Medline in a research note on Thursday, June 4th. Royal Bank Of Canada dropped their price objective on Medline from $53.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Robert W. Baird set a $42.00 price objective on Medline in a research report on Thursday. Weiss Ratings upgraded Medline from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday. Finally, Truist Financial lowered their target price on shares of Medline from $56.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.69.

Read Our Latest Research Report on Medline

Medline Trading Up 1.7%

Shares of MDLN traded up $0.57 during midday trading on Tuesday, hitting $34.38. The stock had a trading volume of 2,660,878 shares, compared to its average volume of 7,363,119. The stock’s 50 day moving average is $38.18 and its 200 day moving average is $41.63. The firm has a market cap of $45.16 billion and a PE ratio of 107.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.33 and a quick ratio of 2.61. Medline has a 1 year low of $32.81 and a 1 year high of $50.88.

Medline (NASDAQ:MDLNGet Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.32 by $0.18. The firm had revenue of $7.68 billion for the quarter. As a group, analysts forecast that Medline will post 1.49 EPS for the current fiscal year.

Insider Transactions at Medline

In related news, insider Douglas P. Golwas sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $36.77, for a total transaction of $3,677,000.00. Following the completion of the sale, the insider directly owned 23,899 shares in the company, valued at $878,766.23. This represents a 80.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Private Ltd Gic sold 1,976,618 shares of Medline stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.60, for a total value of $70,367,600.80. Following the completion of the transaction, the insider owned 25,264,760 shares in the company, valued at $899,425,456. This trade represents a 7.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,938,896 shares of company stock valued at $104,656,454. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Medline

A number of institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 254 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in shares of Medline by 60.2% during the first quarter. North Star Investment Management Corp. now owns 1,362 shares of the company’s stock worth $61,000 after purchasing an additional 512 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Medline in the 4th quarter valued at $25,000. Entrust Financial LLC acquired a new stake in Medline during the 4th quarter worth about $26,000. Finally, NBC Securities Inc. purchased a new position in Medline during the fourth quarter valued at approximately $28,000.

About Medline

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Medline (NASDAQ:MDLN)

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