点击蓝字，关注我们 · 科技、新兴市场⻬头并进 柏基继续重仓全球科技和消费巨头，尤其对拉美电商MercadoLibr（美客多）的押注愈加明显。英伟达高 居首位，说明其看好AI基础设施长期逻辑。 增持榜 Top Buys 追踪机构：柏基资本（Baillie Gifford） 数据周期：截至2025年12月31日（Q4季度） 持仓概览 根据最新披露，柏基资本（Baillie Gifford）在2025年第四季度共计持有265家公司，合计1200亿美元资 产，相较Q3季度减少150亿美元，依旧保持了其一贯风格——重仓科技、全球视野、偏好成长。 前十大重仓股 · 重仓安全科技与教育，⾕歌⼩幅补仓 | | 排名 增持榜(按市值排列) 加仓市值(美元) | | | --- | --- | --- | | 1 | Axon Enterprise (AXON) | 8.6亿 | | 2 | Medline Inc(MDLN) | 4. 37 亿 | | 3 | Rocket Lab(RKLB) | 3.99亿 | | ব | 谷歌-A (GOOGL) | 3.73 亿 | | | 多邻国(DUOL) | 3.57 亿 | 柏 ...

NORTHFIELD, Ill., Jan. 28, 2026 (GLOBE NEWSWIRE) -- Medline Inc. (“Medline”) (Nasdaq: MDLN) today announced that it plans to report fourth quarter and full year 2025 financial results on Wednesday, February 25, 2026. A press release and supplemental materials will be issued before the market opens. The company will host a webcast and conference call at 9:30am ET/ 8:30am CT to discuss the financial results. Information about Medline’s financial results, including a link to the live webcast, will be available ...

Medline Inc. (NASDAQ:MDLN) is one of the stocks Jim Cramer recently looked at. Asking about the stock, a caller mentioned that they started their position when it was at $39. Cramer commented: I’m going to tell you about Medline. That stock is unbelievable. I think it is a [buy, buy, buy, buy, buy, buy, buy, buy, buy]. That’s nine buys, just for the record. Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels Medline Inc. (NASDAQ:MDLN) supplies medical and surgical pr ...

I give a buy rating for Medline Industries ( MDLN ) as I am positive on the vertically integrated strategy, which brings with it scale advantages in manufacturing and logistics. MDLN private label also givesI’m a fundamental, valuation-driven investor with a strong focus on identifying businesses that have the potential to scale over time and unlock massive terminal value. My investment approach centers around understanding the core economics of a business—its competitive moat, unit economics, reinvestment ...

Company Overview - Medline is a major player in the healthcare industry, founded in 1966, providing medical-surgical products and supply chain solutions across various points of care [3] - The company offers over 335,000 products under various brand names, employing over 43,000 people and operating more than 29 million square feet of warehousing [2] IPO Details - Medline's IPO occurred on December 17, 2025, raising gross proceeds of $6.26 billion by selling 216,034,482 shares at $29 each, marking it as the largest IPO of 2025 [1] - The underwriters exercised their option to purchase an additional 32,405,172 shares, resulting in a market capitalization of approximately $34 billion [1] Market Performance and Analyst Ratings - Morgan Stanley's analyst Patrick Wood views Medline as a solid investment due to its position as the largest medical supply distributor in the U.S. market, with a unique business model and significant scale [8] - The stock has a Strong Buy consensus rating based on 26 reviews, with 22 Buys and 4 Holds, currently priced at $43.41, and an average target price of $47.24, indicating a potential 9% gain in the next 12 months [8] Industry Context - The U.S. IPO market has shown signs of revival, with 342 companies going public by mid-December 2025, representing a 57% increase year over year, and aggregate proceeds exceeding $75 billion, approximately 80% higher than the previous year [6] - Cooling inflation and the Federal Reserve's shift toward interest-rate easing have improved equity market conditions, making stocks more attractive [5]

PresentationPresenting for the company will be Jim Boyle, their CEO. Mike Drazin, their CFO, is going to join us for the Q&A portion. But before we get started, Karen King, who is Head of Investor Relations, is just going to read an opening reg FDC.All right. Great. Good afternoon, everyone, and welcome. My name is Lisa Gill, and I head up health care services here at JPMorgan. It is with great pleasure this afternoon that I introduce Medline for their first JPMorgan Healthcare Conference as a publicly trad ...

Medline Conference Call Summary Company Overview - Medline is a healthcare supply company that has transitioned from a privately held entity to a publicly traded company, marking its first presentation at the JPMorgan Healthcare Conference as a public entity [1][2][3] - The company has a history of 59 years, with total revenue growing from approximately $450 million in 1996 to about $27 billion in the trailing twelve months as of September [3][4] Core Mission and Business Model - Medline's mission is to improve healthcare efficiency by delivering value through clinical, financial, and operational outcomes [4] - The Medline brand accounts for up to 60% of a hospital's medical-surgical budget, with a commitment to guarantee savings [4][5] - The company operates a vast supply chain with over 335,000 products, including 190,000 Medline brand products, and employs 43,000 people [5][6] Financial Performance and Growth - Medline reported a trailing twelve-month revenue of $27.4 billion, with a projection of $25.5 billion for 2024 [5][6] - The company has experienced 58 years of consecutive growth at an 18% compound annual growth rate (CAGR) [6] - Medline's business model is split almost evenly between Medline brand products ($12.5 billion revenue, 26% EBITDA margin) and distributed products from third-party manufacturers ($13 billion revenue, 5% EBITDA margin) [15] Market Opportunities and Trends - The total addressable market (TAM) for Medline is over $375 billion, with $200 billion internationally and $175 billion in the U.S. [11] - The healthcare market is expected to grow organically by 3%-4% due to demographic shifts, particularly among those aged 50 and older [11][12] - Non-acute care markets, such as surgery centers and physician offices, are projected to grow faster than acute care markets [12][43] Strategic Initiatives - Medline aims to sign $1 billion in new prime vendor relationships annually, with $2.1 billion already closed in the first three quarters of 2025 [17][39] - The company is focused on converting existing customers to Medline brand products, with a 98% retention rate [18] - Medline has a strong emphasis on innovation, with over 400 510(k) clearances and 2,100 granted patents [20] Challenges and Risk Management - The company faces challenges from Medicare and Medicaid cuts, as well as reimbursement concerns [13][14] - Medline has absorbed tariff costs to maintain customer relationships and is actively working on supplier diversification to mitigate future impacts [37][57] - The anticipated impact of tariffs is quantified at $525 million, with a significant portion affecting margins in 2025 and 2026 [56] Competitive Landscape - Medline differentiates itself by being a manufacturer first, with 33 owned manufacturing facilities and exclusive partnerships with 300 global suppliers [45] - The company has invested significantly in supply chain capabilities, including robotics and automation, to enhance efficiency [46] Future Outlook - Medline is committed to maintaining a disciplined approach to capital allocation, focusing on business investments and potential opportunistic M&A [32][31] - The company aims for long-term, high single-digit revenue growth and adjusted EBITDA growth in line with sales growth starting in 2027 [32][34] Conclusion - Medline's focus on customer value, operational efficiency, and innovation positions it well for future growth despite market challenges [62]

Core Viewpoint - Medline Inc. has shown strong stock performance following its $7.2 billion IPO, with analysts expressing optimism about its business model and growth prospects, supported by its scale and vertical integration in manufacturing [1][6] Company Performance - Medline's stock rose by 5.43% to $42.72, continuing its upward trend since the IPO, which is the largest in 2025 [1] - The stock has increased nearly 40% from its IPO price as of January 9 [1] - The company has a market capitalization of $57 billion [1] Analyst Coverage - 27 institutions have initiated coverage on Medline, with 22 providing "buy" or equivalent ratings [1] - The average 12-month target price set by analysts is $47.12 per share [1] Market Opportunity - Medline operates in a total addressable market (TAM) of $375 billion, with a penetration rate of approximately 15% in the U.S. market, which is valued at $175 billion [2] Growth Drivers - The company benefits from long-term market growth driven by an aging population, with projections indicating that the percentage of U.S. residents aged 65 and older will rise from about 17% to 23% by 2050 [6] - Multi-year contracts provide visibility for future market share growth [6] Revenue Generation - Medline generated over $16 billion in revenue from existing "major supplier" customers in 2024 [8] - The company aims to increase its private label penetration from approximately 35% to 60%, potentially releasing an additional $1 billion in gross profit [8] Cost Considerations - Some analysts express caution due to the impact of tariffs introduced by the Trump administration, which may pressure profit margins, particularly in fiscal years 2025 and 2026 [7] - Other analysts believe that the impact of tariffs will dissipate in the short term, with expectations of organic growth rates reaching mid-to-high single digits by 2027 [7]

Several analysts initiated coverage on Medline Inc. (NASDAQ:MDLN) on Monday, one of the largest providers of medical-surgical products and supply chain solutions.Its product portfolio includes surgical kits, wheelchairs, crutches, hospital beds, fluid delivery sets, syringes, and pressure monitoring lines, among others.In December 2025, Medline closed its upsized initial public offering of 248.44 million shares at $29.00 per share, raising over $7 billion.Reuters noted that the Medline IPO was the biggest g ...

Brokerages began coverage of Medline with largely bullish ratings on Monday, betting on supply chain strength and brand penetration, following the firm's upsized U.S. initial public offering in Decemb... ...