BNP Paribas Exane Lowers Medline (NASDAQ:MDLN) Price Target to $40.00

Medline (NASDAQ:MDLN) had its target price cut by stock analysts at BNP Paribas Exane from $49.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. BNP Paribas Exane’s price objective would indicate a potential upside of 10.53% from the stock’s previous close.

A number of other brokerages also recently commented on MDLN. BTIG Research restated a “buy” rating and set a $55.00 price objective on shares of Medline in a research report on Thursday, May 7th. Leerink Partners set a $56.00 price objective on shares of Medline in a research report on Wednesday, February 25th. Wells Fargo & Company upped their price objective on shares of Medline from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. UBS Group upped their price objective on shares of Medline from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, BMO Capital Markets upped their price objective on shares of Medline from $45.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.85.

Medline Stock Down 7.0%

MDLN stock opened at $36.19 on Thursday. The firm has a fifty day simple moving average of $43.47. Medline has a 12 month low of $34.89 and a 12 month high of $50.88.

Medline (NASDAQ:MDLN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Medline will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medline

Large investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new stake in Medline in the 4th quarter valued at about $25,000. Entrust Financial LLC acquired a new stake in Medline in the 4th quarter valued at about $26,000. NBC Securities Inc. acquired a new stake in Medline in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC acquired a new stake in Medline in the 1st quarter valued at about $30,000. Finally, Global Retirement Partners LLC acquired a new stake in Medline in the 4th quarter valued at about $31,000.

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.