Medline Sees Unusually Large Options Volume (NASDAQ:MDLN)

Medline (NASDAQ:MDLN) was the recipient of unusually large options trading on Monday. Traders acquired 15,355 call options on the stock. This represents an increase of 423% compared to the typical daily volume of 2,935 call options.

Institutional Trading of Medline

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC bought a new stake in shares of Medline in the fourth quarter worth $25,000. Entrust Financial LLC bought a new stake in Medline during the fourth quarter worth about $26,000. NBC Securities Inc. acquired a new position in Medline during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC bought a new position in Medline in the fourth quarter valued at approximately $31,000. Finally, North Star Investment Management Corp. bought a new position in Medline in the fourth quarter valued at approximately $36,000.

Analyst Upgrades and Downgrades

MDLN has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Medline from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. TD Cowen assumed coverage on Medline in a report on Monday, January 12th. They set a “buy” rating on the stock. William Blair assumed coverage on Medline in a research note on Monday, January 12th. They set an “outperform” rating for the company. Leerink Partners set a $56.00 target price on shares of Medline in a report on Wednesday, February 25th. Finally, Mizuho began coverage on shares of Medline in a research note on Monday, January 12th. They issued an “outperform” rating and a $48.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.62.

Medline Price Performance

Shares of MDLN traded down $0.04 during midday trading on Monday, hitting $42.69. The stock had a trading volume of 1,161,565 shares, compared to its average volume of 5,108,725. The firm has a 50 day moving average of $44.85. Medline has a twelve month low of $34.89 and a twelve month high of $50.88.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.25). The firm had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.52 billion. The firm’s revenue was up 14.8% compared to the same quarter last year.

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.