Medline (NASDAQ:MDLN) Receives Average Rating of “Moderate Buy” from Analysts

Medline (NASDAQ:MDLN) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-eight research firms that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $47.9231.

Several analysts have commented on MDLN shares. 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 target for the company. UBS Group began coverage on shares of Medline in a research report on Monday, January 12th. They set a “buy” rating and a $48.00 target price for the company. Zacks Research upgraded shares of Medline to a “hold” rating in a research note on Tuesday, January 13th. Piper Sandler began coverage on Medline in a research report on Monday, January 12th. They set an “overweight” rating and a $50.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Medline in a research report on Monday, January 12th. They issued a “hold” rating and a $40.00 price objective for the company.

Insiders Place Their Bets

In related news, Director Andrew J. Mills purchased 2,586,206 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $29.00 per share, with a total value of $74,999,974.00. Following the completion of the acquisition, the director owned 2,586,206 shares in the company, valued at approximately $74,999,974. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles N. Mills acquired 2,579,310 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were bought at an average cost of $29.00 per share, for a total transaction of $74,799,990.00. Following the completion of the acquisition, the director directly owned 2,441,379 shares of the company’s stock, valued at approximately $70,799,991. The trade was a -1,870.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Trading of Medline

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Perigon Wealth Management LLC acquired a new stake in shares of Medline during the 4th quarter worth approximately $211,000. SteelPeak Wealth LLC purchased a new stake in Medline during the fourth quarter worth $441,000. Sound Income Strategies LLC acquired a new stake in Medline during the fourth quarter valued at $25,000. Massachusetts Financial Services Co. MA purchased a new position in Medline in the fourth quarter valued at $429,544,000. Finally, Baillie Gifford & Co. acquired a new position in shares of Medline in the fourth quarter worth about $437,236,000.

Medline Price Performance

Shares of MDLN stock opened at $45.29 on Friday. Medline has a 1-year low of $34.89 and a 1-year high of $47.99.

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.