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]
2 New IPO Stocks Hit the Market – Morgan Stanley Picks the Superior One to Buy