Medline (NASDAQ:MDLN) Reaches New 1-Year High – Time to Buy?

Shares of Medline (NASDAQ:MDLN) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $50.09 and last traded at $49.64, with a volume of 3935753 shares. The stock had previously closed at $49.80.

Analyst Ratings Changes

MDLN has been the subject of a number of research analyst reports. Bank of America initiated 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. The Goldman Sachs Group started coverage on Medline in a research report on Monday, January 12th. They issued a “buy” rating and a $49.00 target price for the company. Piper Sandler started coverage on shares of Medline in a report on Monday, January 12th. They issued an “overweight” rating and a $50.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Medline in a research note on Monday, January 12th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. set a $55.00 price target on shares of Medline in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Medline presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.92.

Medline Trading Down 0.3%

The business’s 50-day moving average price is $44.01.

Insiders Place Their Bets

In related news, major shareholder Hellman & Friedman Capital Par sold 6,088,371 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $28.37, for a total transaction of $172,727,085.27. Following the completion of the sale, the insider directly owned 4,806,160 shares of the company’s stock, valued at approximately $136,350,759.20. This represents a 55.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew J. Mills bought 2,586,206 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average cost of $29.00 per share, for a total transaction of $74,999,974.00. Following the transaction, the director owned 2,586,206 shares in the company, valued at $74,999,974. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Chung Wu Investment Group LLC acquired a new position in shares of Medline in the fourth quarter valued at approximately $155,000. North Star Investment Management Corp. bought a new stake in Medline during the 4th quarter worth approximately $36,000. NBC Securities Inc. bought a new position in shares of Medline during the fourth quarter valued at $28,000. Pictet Asset Management Holding SA bought a new stake in shares of Medline in the fourth quarter worth $48,996,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Medline during the 4th quarter worth about $2,768,000.

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.