Medline Inc. (MDLN) Stock Price & Analysis
Medline Inc. (MDLN) closed at USD 32 on Thursday, October 29, 2026, down 1.14% on the day. The US market is currently closed (after-hours); this is not a live price.
The prior close was USD 32.37; the Oct 29, 2026 session ranged USD 31.87–33.4 on volume of 15,888,069 shares. Market capitalization is $43.05B, with a 52-week range of USD 31.49–50.88 (NMS). Source: Nexqual, retrieved October 29, 2026 at 20:46 UTC.
Also available as compact Markdown for AI agents: nexqual.com/MDLN.md
Key facts (MDLN)
- Last four reported quarters (through Jun 27, 2026): revenue $28.6B, net income $1.03B (3.6% margin), free cash flow $1.59B (SEC filings).
- Valuation: P/E 42.0x, EV/EBITDA 17.4x, net debt $9.90B.
- Earnings quality: non-operating income -$807M vs operating income $2.03B over the last four quarters; P/E excluding non-operating income ≈25.2x (estimate: non-operating income taxed at the company's 15.5% effective rate).
- 4 of 80 tracked superinvestors hold MDLN (13F, Q2 2026 (1 investor on Q3 2026, filed early)): 0 new, 1 added, 3 reduced, 0 unchanged.
- Analysts: Buy (mean 1.89 on a 1–5 scale) (27 analysts), mean target USD 44.31 (range 34–55).
- Total return with dividends: 1Y -21.9% vs S&P 500 +14.4%; 5Y -23.2% vs S&P 500 +79.1%.
- Next earnings: 2026-11-04, EPS estimate USD 0.35, revenue estimate $7.72B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (MDLN)
| USD | FY2023 | FY2024 | FY2025 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $23.2B | $25.5B | — | $28.4B | $28.6B |
| Gross profit | $5.88B | $6.98B | — | $7.52B | — |
| Operating income | $1.25B | $2.15B | — | $2.21B | $2.03B |
| Net income | $234M | $1.16B | $1.15B | $1.16B | $1.03B |
| EPS (diluted) | — | — | — | -$0.01 | — |
| Free cash flow | $1.41B | $1.42B | — | $1.30B | $1.59B |
| Gross margin | 25.3% | 27.3% | — | 26.4% | — |
| Operating margin | 5.4% | 8.4% | — | 7.8% | 7.1% |
| Net margin | 1.0% | 4.6% | — | 4.1% | 3.6% |
| Revenue growth | — | +9.8% | — | +11.5% | — |
| Cash + short-term investments | $1.58B | $199M | — | $1.94B | — |
| Total debt | — | $16.5B | — | $12.6B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 27, 2026) (MDLN)
P/E 42.0x · P/E ex non-operating (est.) ≈25.2x · P/S 1.5x · EV/EBITDA 17.4x · EV/Sales 1.9x · P/FCF 27.1x · P/B 3.7x · FCF yield 3.70% · Earnings yield 2.38% · Buyback yield (TTM) 0.03% · Net debt $9.90B · EV $53.0B
Superinvestors (SEC 13F-HR, Q2 2026) (MDLN)
4 of 80 tracked investors hold MDLN (1 investor on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| Stephen Mandel | Lone Pine Capital | 5.06% | $827M | Added +77.9% | Q2 2026 |
| John Armitage | Egerton Capital | 4.69% | $461M | Reduced -19.4% | Q3 2026 |
| Henry Ellenbogen | Durable Capital Partners | 1.01% | $104M | Reduced -63.8% | Q2 2026 |
| Viking Global | Viking Global Investors | 0.54% | $191M | Reduced -57.7% | Q2 2026 |
Analysts (MDLN)
Consensus Buy (mean 1.89 on a 1–5 scale), 27 analysts; mean target USD 44.31 (low 34, high 55).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Mizuho | Target lowered | Outperform | $48 → $45 |
| 2026-10-09 | Barclays | Target lowered | Overweight | $45 → $43 |
| 2026-09-25 | UBS | Target lowered | Buy | $45 → $43 |
| 2026-08-27 | BTIG | Reiterated | Buy | $55 |
| 2026-08-12 | JP Morgan | Target lowered | Overweight | $53 → $46 |
| 2026-08-11 | Tigress Financial | Target lowered | Buy | $62 → $55 |
| 2026-08-11 | Wells Fargo | Target lowered | Equal-Weight | $45 → $34 |
| 2026-08-10 | TD Cowen | Target lowered | Buy | $53 → $45 |
| 2026-08-06 | RBC Capital | Target lowered | Outperform | $53 → $46 |
| 2026-08-06 | Truist Securities | Target lowered | Buy | $56 → $47 |
| 2026-08-06 | Evercore ISI Group | Target lowered | Outperform | $48 → $39 |
| 2026-08-06 | Stifel | Target lowered | Buy | $50 → $45 |
Total return (dividends reinvested) (MDLN)
| 1Y (from 2025-12-17) | 5Y (from 2025-12-15) | |
|---|---|---|
| Total return | -21.9% | -23.2% |
| S&P 500 (SPY) | +14.4% | +79.1% |
| Per year | — | — |
| Volatility (annualized) | 44.4% | 44.5% |
| Max drawdown | -36.7% (Feb 2026→Sep 2026) | -36.5% (Feb 2026→Sep 2026) |
MDLN earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 5, 2026 | Quarter ended Jun 30, 2026 | $0.50 | $0.32 | Beat +56.3% | -17.9% |
| May 6, 2026 | Quarter ended Mar 31, 2026 | $0.33 | $0.29 | Beat +13.8% | -7.6% |
| Feb 25, 2026 | Quarter ended Dec 31, 2025 | $0.31 | $0.24 | Beat +29.2% | -2.2% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
MDLN recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Oct 21, 2026 | 8-K | Regulation FD disclosure |
| Oct 15, 2026 | 8-K | Director or executive officer change, or pay arrangement “On October 13, 2026, Joseph P. Baratta notified the Board of Directors (the "Board") of Medline Inc. (the "Company") of his decision to resign from the Board, effective as of December 31, 2026. Mr. Baratta's decision coincides with his previously announced departure from Blackstone Inc. and is not the result of any disagreement with the Company related to the Company's operations, policies, or practices. The Board is grateful for Mr. Baratta's service and contributions to the Company.” |
| Aug 11, 2026 | Schedule 13G/A | Hellman & Friedman Capital Partners X (Parallel), L.P., HFCP X (Parallel - A), L.P.: 16.0% of shares, passive 5%+ holder (amended) |
| Aug 7, 2026 | Schedule 13G/A | BX Mozart ML-2 Holdco L.P., BX Mozart ML-1 Holdco L.P.: 16.5% of shares, passive 5%+ holder (amended) |
| Aug 6, 2026 | Schedule 13G | FMR LLC, Abigail P. Johnson: 5.5% of shares, passive 5%+ holder |
| Aug 5, 2026 | 10-Q | Quarterly report · period ended Jun 27, 2026 |
| Aug 5, 2026 | 8-K | Quarterly results |
| Jul 9, 2026 | 8-K | Director or executive officer change, or pay arrangement “On July 7, 2026, Stephen L. Miller, Chief Operating Officer of Medline Inc. (the " Company "), notified the Company that he would retire from his role, effective August 30, 2026, for health-related reasons. The Company is launching a search for his successor.” |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
MDLN suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | McKesson (MCK) | “Additionally, other distributors of med-surg products similarly connect the fragmented supplier and provider bases and aggregate inventory from suppliers to deliver products to customers, such as McKesson, Cardinal Health, Owens & Minor, and Henry Schein.” |
| Supplier | Cardinal Health (CAH) | “Additionally, other distributors of med-surg products similarly connect the fragmented supplier and provider bases and aggregate inventory from suppliers to deliver products to customers, such as McKesson, Cardinal Health, Owens & Minor, and Henry Schein.” |
| Competitor | Amazon (AMZN) | “Additionally, when we sell products through large online commerce solutions, such as Amazon, we forfeit our ability to establish pricing or differentiate in placement among competitor products and are required to pay a portion of the sale to the online commerce solution.” |
Quoted from the company's 10-K filed Feb 25, 2026.
MDLN company outlook (results filed Aug 5, 2026)
- “The Company is updating its full year 2026 outlook for Organic Sales 2 growth to 9.0% to 10.0%, compared to its previous outlook of 8.5% to 9.5%, reflecting strong existing and new customer demand.”
- “The Company updated its Adjusted EBITDA 2 outlook to $3.3 billion to $3.4 billion, compared to its previous outlook of $3.5 to $3.6 billion, primarily reflecting higher than expected inflationary pressure from the Middle East conflict, increased operational investments to support customer demand, quality remediation efforts, and retail channel softness.”
- “The Organic Sales 2 reflects IEEPA tariff customer repayments and the Adjusted EBITDA 2 outlook does not reflect the benefit of IEEPA tariff refunds.”
Quoted word-for-word from the SEC 8-K results press release.
MDLN analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.35 | $0.39 | -10.6% | $7.72B | 23 |
| Next quarter (ends Dec 2026) | $0.40 | $0.48 | -16.6% | $8.47B | 22 |
| Current fiscal year (ends Dec 2026) | $1.54 | $1.51 | +1.5% | $31.23B | 19 |
| Next fiscal year (ends Dec 2027) | $1.57 | $1.67 | -5.7% | $33.68B | 25 |
MDLN options: expected move
Options price a move of about ±12.6% (±$4.10) by Nov 20, 2026, which includes earnings on Nov 4, 2026. Over the last 3 reports the stock moved ±9.2% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 22 | 64.1% | ±12.6% |
| Dec 18, 2026 | 50 | 55.9% | ±16.1% |
| Jan 15, 2027 | 78 | 46.3% | ±15.8% |
| Feb 19, 2027 | 113 | 47.8% | ±21.0% |
| May 21, 2027 | 204 | 47.9% | ±28.2% |
30-day implied volatility 55.8% vs 30.7% realized over the last 30 trading days. Put/call ratio (volume) 0.11. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 29, 2026 at 20:46 UTC)
| Price | USD 32 |
|---|---|
| Change | ▼ 1.14% (down) |
| Previous Close | USD 32.37 |
| Open | USD 32.48 |
| Day Range | USD 31.87 – 33.4 |
| 52-Week Range | USD 31.49 – 50.88 |
| Volume | 15,888,069 shares |
| Market Cap | $43.05B |
| Exchange | NMS |
Technical Analysis (MDLN)
Nexqual's technical model rates MDLN "SELL" based on 2 bullish and 5 bearish signals across 127 daily candles, as of October 29, 2026 at 20:46 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 33.22 (neutral) |
| vs SMA50 | Below (USD 34.52) |
| MACD | -0.57 (negative) |
Analyst Ratings (MDLN)
Wall Street analysts rate MDLN "Buy" based on 27 analysts, with a mean price target of USD 44.31 (range USD 34–55), per Nexqual as of October 29, 2026 at 20:46 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 27 |
| Mean Target | USD 44.31 |
| High Target | USD 55 |
| Low Target | USD 34 |
| Buy / Hold / Sell | 23 / 4 / 0 |
Earnings (MDLN)
| Next Earnings Date | 2026-11-04 |
|---|---|
| EPS Estimate | USD 0.35 |
| Revenue Estimate | $7.72B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.5 vs est 0.32 ▲ beat |
| 2026-03-31 | USD 0.33 vs est 0.29 ▲ beat |
| 2025-12-31 | USD 0.31 vs est 0.24 ▲ beat |
Source: Nexqual, October 29, 2026 at 20:46 UTC.
Financials & Fundamentals (MDLN)
| Total Revenue | $29.94B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +11.60% |
| Gross Margin | +25.09% |
| Operating Margin | +0.82% |
| Profit Margin | +2.31% |
| ROE | +4.93% |
| Debt / Equity | 0.66 |
| Current Ratio | 4.33 |
| Total Cash | $2.70B |
| Total Debt | $12.64B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $1.59B (5.6% of revenue) |
Source: Nexqual, October 29, 2026 at 20:46 UTC.
Financial Health Score (MDLN)
Nexqual rates Medline Inc.'s overall financial health "Mixed" across five dimensions, as of October 29, 2026 at 20:46 UTC.
| Growth | Solid — Revenue +11% YoY (annual) |
|---|---|
| Profitability | Solid — Gross margin 27%, operating 7% (last 4 quarters to Jun 2026, SEC) |
| Balance Sheet | Strong — $2.68B cash and investments vs $12.6B debt (Jun 2026, SEC) |
| Cash Flow | Solid — FCF $1.59B (last 4 quarters to Jun 2026, SEC), 6% margin |
| Efficiency | Mixed — ROE 9%, ROA 2.6% (last 4 quarters, SEC) |
Ownership (MDLN)
| Insider Ownership | +0.26% |
|---|---|
| Institutional Ownership | +112.01% |
| Shares Outstanding | 877.35M |
| Float | 369.50M |
| Short % of Float | +9.69% |
Source: Nexqual, October 29, 2026 at 20:46 UTC.
Leadership (MDLN)
Medline Inc. is led by James M. Boyle, CEO & Director, per Nexqual as of October 29, 2026 at 20:46 UTC.
| CEO & Director | James M. Boyle |
|---|---|
| Chief Financial Officer | Michael B. Drazin |
| Vice President of Corporate Communications | Ben Fox |
| Chief Marketing Officer | Jenny Lee |
Major Backers & Investors (MDLN)
Notable institutional backers of Medline Inc. include Carlyle Group Inc., Blackstone Inc, H&f Corporate Investors X, Ltd., according to Nexqual as of October 29, 2026 at 20:46 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Carlyle Group Inc. | 21.32% |
| Blackstone Inc | 11.6% |
| H&f Corporate Investors X, Ltd. | 8.08% |
| FMR, LLC | 5.35% |
| Capital Group | 4.56% |
| Invesco | 4.37% |
| Morgan Stanley | 2.46% |
| Lone Pine Capital | 2.39% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 3.01% |
| Vanguard Group | 2.9% |
Source: Nexqual, October 29, 2026 at 20:46 UTC.
From Medline Inc.'s Latest SEC 10-K Filing (filed 2026-02-25)
Key Strengths & Strategy (as disclosed to the SEC)
- As of December 31, 2025, we offer approximately 145,000 med-surg products from over 1,300 third-party suppliers, including nearly all leading national brands, through our Supply Chain Solutions segment.
- For any new drug products regulated under the Federal Food, Drug, and Cosmetic Act such as our ReadyPrep CHG cloth, a sponsor must submit a New Drug Application ("NDA"), to the FDA for review and approval.
- At the state level in the United States, the CCPA added new privacy protections for California residents with respect to certain types of Personal Data, including by introducing new data privacy rights for California residents and establishing a regulatory agency dedicated to enforcing compliance.
- We have a large portfolio of intellectual property, including more than 2,300 granted patents as well as trademark registrations protecting our notable brands, including Medline, Curad, Microtek, Hudson, and Proxima.
Partnerships
- Violations are subject to civil monetary penalties of up to $124,732 (which is adjusted annually for inflation) for each violation, plus up to three times the remuneration involved, and may result in criminal fines and imprisonment of up to ten years, and/or exclusion from Medicare, Medicaid, or other governmental programs.
Legal & Regulatory Risks (Item 1A, quoted)
- We are subject to extensive and complex laws and governmental regulations and any adverse regulatory action may materially adversely affect our business, results of operations, and financial condition both inside and outside the United States.
- Our products may also be subject to Import Alerts that restrict the importation of certain of our products or products manufactured by our suppliers into the United States.
- New environmental, health, and safety laws and regulations, violations of these laws or regulations, stricter enforcement of existing requirements, or the discovery of previously unknown contamination could result in increased costs and other burdens.
- The failure to comply with anti-corruption laws or trade restrictions, including economic sanctions, could materially adversely affect our business, results of operations, and financial condition and result in civil and/or criminal penalties.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| BDX | Becton, Dickinson and Company | USD 198.34 | ▲ 1.63% |
| RMD | ResMed Inc. | USD 252.83 | ▲ 1.06% |
| ALC | Alcon Inc. | USD 71.13 | ▲ 1.86% |
| WST | West Pharmaceutical Services, I | USD 416.67 | ▲ 3.23% |
| SOLV | Solventum Corporation | USD 83.56 | ▲ 2.09% |
| BAX | Baxter International Inc. | USD 23.5 | ▼ 7.7% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 20:46 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt