Medline (NASDAQ:MDLN) Shares Down 5.3% – What’s Next?

Medline (NASDAQ:MDLN)’s stock price fell 5.3% on Friday . The company traded as low as $35.07 and last traded at $35.15. 1,245,103 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 7,063,966 shares. The stock had previously closed at $37.13.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MDLN. Citigroup lowered their target price on Medline from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on Medline from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, March 10th. Sanford C. Bernstein lowered their target price on Medline from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Evercore restated an “outperform” rating and issued a $55.00 target price on shares of Medline in a research note on Wednesday, February 25th. Finally, BNP Paribas Exane lowered their target price on Medline from $49.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Medline presently has a consensus rating of “Moderate Buy” and an average target price of $50.54.

Medline Price Performance

The business has a 50-day moving average price of $40.76. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.41 and a quick ratio of 2.51. The stock has a market cap of $48.09 billion and a PE ratio of 114.41.

Medline (NASDAQ:MDLN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $7.35 billion during the quarter. Medline’s revenue for the quarter was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that Medline will post 1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jessi L. Corcoran acquired 5,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $34.15 per share, for a total transaction of $170,750.00. Following the completion of the transaction, the insider directly owned 5,000 shares in the company, valued at $170,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medline

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carlyle Group Inc. acquired a new position in shares of Medline during the 4th quarter worth about $9,042,728,000. H&F Corporate Investors X Ltd. acquired a new position in shares of Medline during the 4th quarter worth about $4,179,591,000. Vanguard Group Inc. acquired a new position in shares of Medline during the 4th quarter worth about $793,278,000. Morgan Stanley acquired a new position in shares of Medline during the 4th quarter worth about $636,807,000. Finally, Capital Research Global Investors acquired a new position in shares of Medline during the 4th quarter worth about $620,937,000.

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.