Medline (NASDAQ:MDLN) Receives $50.62 Consensus Target Price from Brokerages
by Kim Johansen · The Markets DailyShares of Medline (NASDAQ:MDLN – Get Free Report) have received an average rating of “Moderate Buy” from the twenty-nine ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $50.6154.
MDLN has been the topic of a number of analyst reports. Truist Financial initiated coverage on shares of Medline in a research note on Monday, January 12th. They set a “buy” rating and a $52.00 target price on the stock. BMO Capital Markets lifted their target price on shares of Medline from $45.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Bank of America initiated coverage on shares of Medline in a research note on Monday, January 12th. They set a “buy” rating and a $50.00 target price on the stock. Citigroup initiated coverage on shares of Medline in a research note on Wednesday, March 11th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Stifel Nicolaus set a $55.00 target price on shares of Medline in a research note on Wednesday, February 25th.
Read Our Latest Report on Medline
Institutional Trading of Medline
A number of institutional investors and hedge funds have recently bought and sold shares of MDLN. Perigon Wealth Management LLC bought a new stake in Medline in the 4th quarter valued at $211,000. SteelPeak Wealth LLC purchased a new stake in shares of Medline in the fourth quarter worth about $441,000. Sound Income Strategies LLC purchased a new stake in shares of Medline in the fourth quarter worth about $25,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Medline in the fourth quarter worth about $429,544,000. Finally, Baillie Gifford & Co. purchased a new stake in shares of Medline in the fourth quarter worth about $437,236,000.
Medline Stock Performance
MDLN opened at $44.76 on Wednesday. Medline has a fifty-two week low of $34.89 and a fifty-two week high of $50.88. The company’s fifty day moving average price is $44.98.
Medline (NASDAQ:MDLN – Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.25). The company had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.52 billion. The business’s revenue was up 14.8% on a year-over-year basis. As a group, equities analysts expect that Medline will post 1.46 earnings per share for the current year.
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.