Medline (NASDAQ:MDLN) Sets New 1-Year Low – Time to Sell?

Medline (NASDAQ:MDLN)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $32.44 and last traded at $32.4050, with a volume of 5032109 shares traded. The stock had previously closed at $34.05.

Wall Street Analysts Forecast Growth

MDLN has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Medline from $53.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of Medline from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. William Blair reaffirmed an “outperform” rating on shares of Medline in a report on Thursday, June 4th. Evercore set a $39.00 target price on Medline in a research note on Thursday, August 6th. Finally, TD Cowen reduced their price target on Medline from $53.00 to $45.00 and set a “buy” rating for the company in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.42.

Medline Price Performance

The stock has a market cap of $42.58 billion and a price-to-earnings ratio of 41.00. The company’s 50 day moving average is $37.57 and its 200 day moving average is $40.02. 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 (NASDAQ:MDLN) last issued its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. The company had revenue of $7.68 billion during the quarter. Research analysts forecast that Medline will post 1.51 earnings per share for the current fiscal year.

Insider Activity at Medline

In other Medline 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 value of $3,677,000.00. Following the sale, the insider owned 23,899 shares of the company’s stock, valued at approximately $878,766.23. This represents a 80.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Private Ltd Gic sold 1,976,618 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $899,425,456. This represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,538,896 shares of company stock valued at $161,936,454 over the last ninety days. 0.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Medline

Large investors have recently added to or reduced their stakes in the business. Carlyle Group Inc. purchased a new position in Medline during the 4th quarter valued at about $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new stake in shares of Medline in the fourth quarter valued at approximately $4,179,591,000. California State Teachers Retirement System grew its position in shares of Medline by 128,629.5% in the second quarter. California State Teachers Retirement System now owns 22,873,938 shares of the company’s stock valued at $902,148,000 after purchasing an additional 22,856,169 shares during the last quarter. Morgan Stanley purchased a new position in shares of Medline during the 4th quarter worth approximately $636,807,000. Finally, Capital Research Global Investors acquired a new position in shares of Medline during the 4th quarter worth approximately $620,937,000.

About Medline

Medline Industries, Inc is a healthcare company that manufactures and distributes medical supplies and clinical products. Its offerings include surgical and exam gloves, personal protective equipment, operating-room supplies, wound-care products, patient-care items, laboratory products, apparel, and durable medical equipment.

The company serves hospitals, health systems, ambulatory surgery centers, physicians’ offices, long-term-care facilities, home-health providers, and other healthcare organizations.