Medline (NASDAQ:MDLN) Stock Bumped Down to Strong Sell by Zacks Research

Medline (NASDAQ:MDLN) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

A number of other research firms have also issued reports on MDLN. Barclays reduced their price target on Medline from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Tigress Financial lowered their price objective on Medline from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. JPMorgan Chase & Co. cut their target price on shares of Medline from $53.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. TD Cowen cut their target price on shares of Medline from $53.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Robert W. Baird set a $42.00 target price on shares of Medline in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.81.

Medline Price Performance

Shares of NASDAQ MDLN opened at $35.31 on Tuesday. The company has a current ratio of 4.33, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. Medline has a 12-month low of $31.49 and a 12-month high of $50.88. The business’s fifty day simple moving average is $34.75 and its 200-day simple moving average is $37.99.

Medline (NASDAQ:MDLN) last released 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. As a group, equities research analysts expect that Medline will post 1.51 EPS for the current year.

Insider Buying and Selling

In other Medline news, major shareholder Private Ltd Gic sold 2,570,999 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $35.35, for a total value of $90,884,814.65. Following the sale, the insider directly owned 20,231,483 shares in the company, valued at $715,182,924.05. This trade represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 10,787,572 shares of company stock valued at $382,784,591 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Medline

A number of institutional investors have recently bought and sold shares of MDLN. Mass General Brigham Inc grew its holdings in shares of Medline by 167.6% during the first quarter. Mass General Brigham Inc now owns 70,357 shares of the company’s stock worth $3,131,000 after purchasing an additional 44,063 shares during the last quarter. Andra AP fonden acquired a new stake in shares of Medline during the second quarter worth about $3,180,000. Cetera Investment Advisers lifted its holdings in shares of Medline by 128.4% in the 1st quarter. Cetera Investment Advisers now owns 52,088 shares of the company’s stock valued at $2,318,000 after purchasing an additional 29,282 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Medline by 1,151.5% in the 2nd quarter. Baird Financial Group Inc. now owns 379,944 shares of the company’s stock valued at $14,985,000 after purchasing an additional 349,584 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its position in shares of Medline by 1,263.0% in the 2nd quarter. WINTON GROUP Ltd now owns 367,057 shares of the company’s stock valued at $14,477,000 after purchasing an additional 340,127 shares during the period.

Medline Company Profile

Medline Industries, Inc is a medical-supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides products and supply-chain services to healthcare organizations, including hospitals, ambulatory surgery centers, physician offices, long-term care facilities, home health providers and other care settings.

Its product portfolio includes medical-surgical supplies, surgical and operating-room products, patient-care items, examination gloves, protective apparel, laboratory products, respiratory-care equipment, durable medical equipment and products for infection prevention.