On August 6, Medline Inc fell 5.15% in regular trading, trading at $34.765/share, with turnover of $212 million.
On the news front, Truist Securities significantly cut its price target on Medline from $56 to $47 while maintaining a Buy rating. The current FactSet consensus mean target stands at $47.50. The downgrade came one day after the company reported Q2 results that beat expectations, with adjusted EPS of $0.50 versus the $0.32 consensus and revenue of $7.685 billion topping the $7.512 billion estimate.
Despite the strong earnings beat, sustained selling pressure from major shareholders continues to weigh on the stock. Blackstone, Hellman & Friedman, and Abu Dhabi Investment Authority affiliates have collectively sold over 147 million shares through multiple secondary offerings this year, including 75 million shares in March and 72.6 million shares in May. This persistent supply overhang, combined with ongoing FDA compliance risks following warning letters regarding CGMP violations at the company's Illinois facility, has kept the stock under pressure.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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