Medline (NASDAQ:MDLN) Announces Earnings Results, Misses Estimates By $0.25 EPS

Medline (NASDAQ:MDLN) issued its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.25), Briefing.com reports. Medline’s revenue for the quarter was up 14.8% compared to the same quarter last year.

Medline Price Performance

MDLN stock traded down $0.56 during trading on Wednesday, reaching $49.43. 1,298,747 shares of the company were exchanged, compared to its average volume of 3,268,246. The business’s 50-day moving average is $44.13. Medline has a twelve month low of $34.89 and a twelve month high of $50.88.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDLN. William Blair assumed coverage on Medline in a research note on Monday, January 12th. They issued an “outperform” rating for the company. Rothschild & Co Redburn set a $42.00 target price on Medline in a research report on Monday, January 12th. Wells Fargo & Company assumed coverage on Medline in a research report on Monday, January 12th. They issued an “equal weight” rating and a $42.00 price target on the stock. Jefferies Financial Group started coverage on shares of Medline in a research report on Monday, January 12th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Morgan Stanley started coverage on shares of Medline in a research note on Sunday, January 11th. They set an “overweight” rating and a $48.00 price objective on the stock. Two investment 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Insider Activity

In other Medline news, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $136,350,759.20. The trade was a 55.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles N. Mills purchased 2,579,310 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was bought at an average cost of $29.00 per share, with a total value of $74,799,990.00. Following the purchase, the director owned 2,441,379 shares of the company’s stock, valued at approximately $70,799,991. This trade represents a -1,870.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Trading of Medline

Institutional investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Medline during the fourth quarter worth $298,461,000. Invesco Ltd. bought a new stake in Medline during the fourth quarter valued at $106,239,000. Corient Private Wealth LLC acquired a new stake in Medline during the 4th quarter worth about $229,000. NewEdge Advisors LLC bought a new position in shares of Medline in the 4th quarter worth about $79,000. Finally, XN LP acquired a new position in shares of Medline in the 4th quarter valued at about $63,084,000.

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.