Charles Schwab Investment Management Inc. Purchases New Position in Medline $MDLN

Charles Schwab Investment Management Inc. purchased a new stake in Medline (NASDAQ:MDLN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 780,041 shares of the company’s stock, valued at approximately $32,762,000. Charles Schwab Investment Management Inc. owned about 0.06% of Medline at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MDLN. Sound Income Strategies LLC bought a new position in shares of Medline in the 4th quarter valued at about $25,000. Entrust Financial LLC bought a new position in shares of Medline in the 4th quarter valued at about $26,000. NBC Securities Inc. bought a new position in shares of Medline in the 4th quarter valued at about $28,000. Global Retirement Partners LLC bought a new position in shares of Medline in the 4th quarter valued at about $31,000. Finally, North Star Investment Management Corp. bought a new position in shares of Medline in the 4th quarter valued at about $36,000.

Analysts Set New Price Targets

MDLN has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of Medline from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings downgraded shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. BNP Paribas Exane decreased their price objective on shares of Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday. Tigress Financial raised their price objective on shares of Medline from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Medline from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.85.

Medline Stock Down 7.0%

Shares of NASDAQ MDLN opened at $36.19 on Friday. Medline has a 1 year low of $34.89 and a 1 year high of $50.88. The stock has a 50-day moving average price of $43.47.

Medline (NASDAQ:MDLN) last issued its earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $7.35 billion for the quarter. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that Medline will post 1.5 earnings per share for the current fiscal 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.