Medline (NASDAQ:MDLN) Sees Large Volume Increase – Still a Buy?

Medline (NASDAQ:MDLN) shares saw unusually-high trading volume on Friday . Approximately 9,930,552 shares traded hands during mid-day trading, an increase of 68% from the previous session’s volume of 5,913,535 shares.The stock last traded at $37.9760 and had previously closed at $37.10.

Analysts Set New Price Targets

MDLN has been the subject of several recent research reports. Evercore reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Medline in a report on Wednesday, February 25th. JPMorgan Chase & Co. increased their price target on Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. Weiss Ratings cut Medline from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Royal Bank Of Canada increased their price target on Medline from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Finally, BNP Paribas Exane cut their price target on Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.85.

Medline Price Performance

The firm’s 50 day simple moving average is $42.82.

Medline (NASDAQ:MDLN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $7.35 billion during the quarter. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts predict that Medline will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On Medline

Large investors have recently modified their holdings of the business. Sound Income Strategies LLC acquired a new position in shares of Medline in the 4th quarter valued at $25,000. Entrust Financial LLC acquired a new position in shares of Medline in the 4th quarter valued at $26,000. NBC Securities Inc. acquired a new position in shares of Medline in the 4th quarter valued at $28,000. Whipplewood Advisors LLC acquired a new position in shares of Medline in the 1st quarter valued at $30,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Medline in the fourth quarter valued at $31,000.

About Medline

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.