Medline’s (NASDAQ:MDLN) Lock-Up Period Set To Expire on June 15th

Medline’s (NASDAQ:MDLN) lock-up period will expire on Monday, June 15th. Medline had issued 216,034,482 shares in its initial public offering on December 17th. The total size of the offering was $6,264,999,978 based on an initial share price of $29.00. After the end of Medline’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MDLN shares. Royal Bank Of Canada increased their price target on shares of Medline from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Barclays lowered their price target on shares of Medline from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, June 1st. Morgan Stanley increased their price objective on shares of Medline from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Weiss Ratings downgraded shares of Medline from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.54.

Medline Price Performance

MDLN opened at $33.61 on Monday. The company has a current ratio of 4.41, a quick ratio of 2.51 and a debt-to-equity ratio of 0.65. Medline has a 52-week low of $32.81 and a 52-week high of $50.88. The firm’s fifty day moving average is $41.45.

Medline (NASDAQ:MDLN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $7.35 billion for the quarter. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts expect that Medline will post 1.51 EPS for the current year.

Institutional Investors Weigh In On Medline

A number of hedge funds have recently modified their holdings of MDLN. Mass General Brigham Inc acquired a new stake in Medline during the fourth quarter worth about $1,104,000. Baillie Gifford & Co. acquired a new stake in Medline during the fourth quarter worth about $437,236,000. Massachusetts Financial Services Co. MA acquired a new stake in Medline during the fourth quarter worth about $429,544,000. UBS Group AG acquired a new stake in Medline during the fourth quarter worth about $54,707,000. Finally, Pictet Asset Management Holding SA acquired a new stake in Medline during the fourth quarter worth about $48,996,000.

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.