Medline (NASDAQ:MDLN – Get Free Report) had its target price decreased by research analysts at Mizuho from $48.00 to $45.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 27.44% from the stock’s current price.
MDLN has been the topic of several other research reports. TD Cowen decreased their price target on shares of Medline from $53.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. UBS Group cut their target price on shares of Medline from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. Robert W. Baird set a $42.00 target price on Medline in a research report on Thursday, August 6th. William Blair reiterated an “outperform” rating on shares of Medline in a report on Wednesday, September 23rd. Finally, Evercore set a $39.00 price target on Medline in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.69.
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Medline Stock Performance
MDLN stock opened at $35.31 on Thursday. The company has a market capitalization of $46.42 billion and a P/E ratio of 44.70. The company has a 50-day simple moving average of $34.75 and a 200 day simple moving average of $37.99. Medline has a fifty-two week low of $31.49 and a fifty-two week high of $50.88. The company has a quick ratio of 2.61, a current ratio of 4.33 and a debt-to-equity ratio of 0.66.
Medline (NASDAQ:MDLN – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. The company had revenue of $7.68 billion for the quarter. Sell-side analysts predict that Medline will post 1.51 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Medline news, major shareholder Private Ltd Gic sold 2,570,999 shares of Medline stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $35.35, for a total value of $90,884,814.65. Following the completion of the sale, the insider directly owned 20,231,483 shares in the company, valued at $715,182,924.05. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 10,787,572 shares of company stock valued at $382,784,591 in the last quarter. Insiders own 0.81% of the company’s stock.
Institutional Investors Weigh In On Medline
Several institutional investors and hedge funds have recently added to or reduced their stakes in MDLN. Reyes Financial Architecture Inc. acquired a new stake in shares of Medline in the third quarter valued at about $30,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Medline by 14.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,856,810 shares of the company’s stock worth $64,431,000 after purchasing an additional 229,817 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of Medline by 2.0% in the third quarter. Bank Pictet & Cie Europe AG now owns 404,883 shares of the company’s stock worth $14,049,000 after purchasing an additional 7,850 shares during the period. SteelPeak Wealth LLC acquired a new position in shares of Medline during the 3rd quarter worth about $572,000. Finally, Banque Pictet & Cie SA lifted its position in shares of Medline by 2.0% during the 3rd quarter. Banque Pictet & Cie SA now owns 7,455,089 shares of the company’s stock worth $258,692,000 after purchasing an additional 142,939 shares during the last quarter.
About Medline
Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.
Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.
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