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$MDLN

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Sectors

Sector Update: Healthcare Stocks Mixed Premarket Friday

Health care stocks were mixed premarket Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.6% higher and the iShares Biotechnology ETF (IBB) down 0.1%.Biogen (BIIB) and Denali Therapeutics (DNLI) are discontinuing further development of BIIB122 in idiopathic Parkinson's disease after a phase 2b study failed to meet its primary or secondary endpoints, the companies said. Biogen shares were down 1% and Denali Therapeutics stock lost more than 3% pre-bell.Medline (MDLN) shares were up more than 1% after the company priced its upsized secondary offering of about 72.6 million of its class A shares on behalf of certain selling stockholders at $37 apiece.Gilead Sciences (GILD) said the European Medicines Agency's Committee for Medicinal Products for Human Use issued a positive opinion supporting approval of Trodelvy as a first-line treatment for certain patients with metastatic triple-negative breast cancer. Gilead Sciences shares were 0.4% higher pre-bell.

$BIIB$DNLI$GILD$IBB$MDLN$XLV
Research

Research Alert: CFRA Maintains Hold Rating On Shares Of Medline Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month price target of $46 (lowered from $52) is 27.7x our 2027 EPS estimate, a small discount to the 28.4x forward average since the recent IPO. Our 2026 EPS estimate is $1.50 (up from $1.47), while our 2027 EPS estimate is $1.60 (down from $1.65). We look favorably on MDLN raising 2026 sales growth expectations despite looming headwinds facing the industry, supported by customer growth, including a new Prime Vendor signing with Mohwak Medbuy Corporation (serving nine acute care hospitals) in Canada. Looking ahead, MDLN sees reimbursement cuts and insurance coverage losses, stemming from recent policy developments such as the expiration of ACA enhanced premium tax credits and the passage of the One Big Beautiful Bill Act, which may cause moderation in healthcare utilization during 2H 2026. We also anticipate margin pressure from inflationary fuel, plastics, and other material costs. We maintain our Hold rating.

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Research

Research Alert: Medline: Q1 Eps Misses As Margin Challenges Offset Sales Growth

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Medline delivered mixed Q1 results with net sales of $7.4B (+10.7%) and organic growth of 10.1%, but adjusted EPS of $0.16 fell well below the $0.29 consensus. Gross margin fell 250bps Y/Y to 25.0% due to tariff impacts and higher costs, while adjusted EBITDA declined 10.6% to $776M with margin falling to 10.6% from 13.1% prior-year. The Medline Brand segment generated $3.5B (+6.2%) in sales, with EBITDA margin declining to 22.1% from 25.4%. Supply Chain Solutions showed stronger growth at $3.9B (+15.0%) though margins compressed. FCF of $316M demonstrated strong cash generation despite growth investments in manufacturing capabilities, in our view. Management raised full-year organic sales guidance to 8.5%-9.5% from 8%-9%, while maintaining adjusted EBITDA guidance of $3.5B-$3.6B, suggesting expectations for margin recovery. We believe operational efficiencies should materialize as MDLN benefits from new customer signings and growth among existing customers, though tariff pressures remain a near-term headwind.

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Wire

Update: Medline Launches AI-Powered Mpower Platform to Strengthen Supply Chain

(Adds stock movement in the final paragraph)Medline (MDLN) has launched Mpower, a cloud-based, AI-powered supply chain platform designed to help health care providers anticipate and respond to potential disruptions before they impact patient care, the company said Monday.The digital control tower "predicts future risks, offers real-time solutions with proactive optimizations and automates workflows," the company said, adding that it aims to reduce daily operational burden for supply chain and clinical teams.Initial data from 10 US health systems where Mpower was deployed showed more than a 50% improvement in order substitution workflows and decision making, Medline said.The platform, developed with Microsoft, is being rolled out in phases through 2026, with additional features planned as it evolves.MDLN shares were down 1.3% in Monday afternoon trading.Price: $44.18, Change: $-0.58, Percent Change: -1.28%

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Research

Research Alert: CFRA Initiates Coverage On Shares Of Medline Inc. With A Hold Rating

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month price target of $52 is 31.5x our 2027 EPS estimate (starts at $1.65; 2026 EPS estimate is $1.47), a premium to MDLN's 28.6x forward average since IPO in December 2025. Though MDLN generates significantly lower revenue than large pharma distributors such Cardinal Health (CAH 212 ****), MDLN's vertically integrated model and vast product portfolio supports much stronger operating margins than peers, in our view. We anticipate 8.5%-9.0% sales growth in 2026, toward the high end of MDLN's organic growth guidance, supported by new customer signings, though offset somewhat by potential headwinds for health care utilization levels due to coverage losses from the OBBBA legislation and the recent expiration of the ACA enhanced premium tax credits, which may pose a drag on medical-surgical product sales. Positively, we see strong sales visibility with $2.4B of new customer signings during 2025, including a long-term partnership with the U.S. Department of Veterans Affairs (VA).

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