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)

Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (MDLN)

USDFY2023FY2024FY2025FY2025TTM
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 margin25.3%27.3%—26.4%—
Operating margin5.4%8.4%—7.8%7.1%
Net margin1.0%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.

InvestorFirm% of portfolioValueChangeQuarter
Stephen MandelLone Pine Capital5.06%$827MAdded +77.9%Q2 2026
John ArmitageEgerton Capital4.69%$461MReduced -19.4%Q3 2026
Henry EllenbogenDurable Capital Partners1.01%$104MReduced -63.8%Q2 2026
Viking GlobalViking Global Investors0.54%$191MReduced -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:

DateFirmActionRatingPrice target
2026-10-22MizuhoTarget loweredOutperform$48 → $45
2026-10-09BarclaysTarget loweredOverweight$45 → $43
2026-09-25UBSTarget loweredBuy$45 → $43
2026-08-27BTIGReiteratedBuy$55
2026-08-12JP MorganTarget loweredOverweight$53 → $46
2026-08-11Tigress FinancialTarget loweredBuy$62 → $55
2026-08-11Wells FargoTarget loweredEqual-Weight$45 → $34
2026-08-10TD CowenTarget loweredBuy$53 → $45
2026-08-06RBC CapitalTarget loweredOutperform$53 → $46
2026-08-06Truist SecuritiesTarget loweredBuy$56 → $47
2026-08-06Evercore ISI GroupTarget loweredOutperform$48 → $39
2026-08-06StifelTarget loweredBuy$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 filedQuarterEPSConsensusSurpriseStock reaction
Aug 5, 2026Quarter ended Jun 30, 2026$0.50$0.32Beat +56.3%-17.9%
May 6, 2026Quarter ended Mar 31, 2026$0.33$0.29Beat +13.8%-7.6%
Feb 25, 2026Quarter ended Dec 31, 2025$0.31$0.24Beat +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)

FiledFormWhat it says
Oct 21, 20268-KRegulation FD disclosure
Oct 15, 20268-KDirector 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, 2026Schedule 13G/AHellman & Friedman Capital Partners X (Parallel), L.P., HFCP X (Parallel - A), L.P.: 16.0% of shares, passive 5%+ holder (amended)
Aug 7, 2026Schedule 13G/ABX Mozart ML-2 Holdco L.P., BX Mozart ML-1 Holdco L.P.: 16.5% of shares, passive 5%+ holder (amended)
Aug 6, 2026Schedule 13GFMR LLC, Abigail P. Johnson: 5.5% of shares, passive 5%+ holder
Aug 5, 202610-QQuarterly report · period ended Jun 27, 2026
Aug 5, 20268-KQuarterly results
Jul 9, 20268-KDirector 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)

RelationshipCompanySentence in the filing
SupplierMcKesson (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.”
SupplierCardinal 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.”
CompetitorAmazon (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)

Quoted word-for-word from the SEC 8-K results press release.

MDLN analyst estimates and revisions

PeriodEPS estimate90 days agoChangeRevenue estimateAnalysts
Current quarter (ends Sep 2026)$0.35$0.39-10.6%$7.72B23
Next quarter (ends Dec 2026)$0.40$0.48-16.6%$8.47B22
Current fiscal year (ends Dec 2026)$1.54$1.51+1.5%$31.23B19
Next fiscal year (ends Dec 2027)$1.57$1.67-5.7%$33.68B25

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.

ExpirationDaysATM implied volatilityExpected move
Nov 20, 20262264.1%±12.6%
Dec 18, 20265055.9%±16.1%
Jan 15, 20277846.3%±15.8%
Feb 19, 202711347.8%±21.0%
May 21, 202720447.9%±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)

PriceUSD 32
Change▼ 1.14% (down)
Previous CloseUSD 32.37
OpenUSD 32.48
Day RangeUSD 31.87 – 33.4
52-Week RangeUSD 31.49 – 50.88
Volume15,888,069 shares
Market Cap$43.05B
ExchangeNMS

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 SignalSELL
RSI (14)33.22 (neutral)
vs SMA50Below (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 RatingBuy
Analyst Count27
Mean TargetUSD 44.31
High TargetUSD 55
Low TargetUSD 34
Buy / Hold / Sell23 / 4 / 0

Earnings (MDLN)

Next Earnings Date2026-11-04
EPS EstimateUSD 0.35
Revenue Estimate$7.72B

Recent Earnings History

QuarterActual vs Estimate
2026-06-30USD 0.5 vs est 0.32 ▲ beat
2026-03-31USD 0.33 vs est 0.29 ▲ beat
2025-12-31USD 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 / Equity0.66
Current Ratio4.33
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.

GrowthSolid — Revenue +11% YoY (annual)
ProfitabilitySolid — Gross margin 27%, operating 7% (last 4 quarters to Jun 2026, SEC)
Balance SheetStrong — $2.68B cash and investments vs $12.6B debt (Jun 2026, SEC)
Cash FlowSolid — FCF $1.59B (last 4 quarters to Jun 2026, SEC), 6% margin
EfficiencyMixed — ROE 9%, ROA 2.6% (last 4 quarters, SEC)

Ownership (MDLN)

Insider Ownership+0.26%
Institutional Ownership+112.01%
Shares Outstanding877.35M
Float369.50M
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 & DirectorJames M. Boyle
Chief Financial OfficerMichael B. Drazin
Vice President of Corporate CommunicationsBen Fox
Chief Marketing OfficerJenny 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

InvestorStake
Carlyle Group Inc.21.32%
Blackstone Inc11.6%
H&f Corporate Investors X, Ltd.8.08%
FMR, LLC5.35%
Capital Group4.56%
Invesco4.37%
Morgan Stanley2.46%
Lone Pine Capital2.39%

Index Funds (Passive)

FundStake
BlackRock3.01%
Vanguard Group2.9%

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)

Partnerships

Legal & Regulatory Risks (Item 1A, quoted)

Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.

Peers & Related Stocks

SymbolNamePriceChange
BDXBecton, Dickinson and CompanyUSD 198.34▲ 1.63%
RMDResMed Inc.USD 252.83▲ 1.06%
ALCAlcon Inc.USD 71.13▲ 1.86%
WSTWest Pharmaceutical Services, IUSD 416.67▲ 3.23%
SOLVSolventum CorporationUSD 83.56▲ 2.09%
BAXBaxter 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.

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