Key Stats for Medline Stock
- Price Change for Medline stock: 41.4%
- $MDLN Share Price as of Dec. 17: $41
- 52-Week High: $41.25
- $MDLN stock IPO Price: $29
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What Happened?
Medline (MDLN) stock jumped 41% in its trading debut on Wednesday, marking the biggest IPO of 2025 globally and the largest U.S. listing since Rivian’s $13.7 billion offering in November 2021.
The medical supply giant priced 216 million shares at $29—at the high end of its $26-$30 range—raising $6.26 billion in an upsized offering.
Shares opened at $35 and closed at $41, giving Medline a market value of roughly $54 billion. The company plans to use the IPO proceeds to pay down some of its $16.8 billion debt load, which stems from its massive 2021 leveraged buyout.
Three private equity firms—Blackstone, Carlyle and Hellman & Friedman—acquired a majority stake in Medline that year for $34 billion in what was the largest LBO since the financial crisis.
Medline, founded in 1966 and based in Northfield, Illinois, manufactures and distributes roughly 335,000 different medical and surgical supplies—from gloves and masks to wheelchairs and scalpels.
The company has customers in more than 100 countries and employed over 43,000 workers worldwide as of the end of 2024.
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What the Market Is Telling Us About Medline Stock
The strong debut of MDLN stock signals renewed investor appetite for large-cap IPOs despite lingering market volatility.
The U.S. IPO market has held steady this year with just over 200 offerings, even as concerns around tariffs and government shutdowns created uncertainty.
Speaking of tariffs, that was actually a key reason Medline postponed earlier IPO plans this year. The majority of the company’s products are sourced or manufactured in Asian nations, particularly China.
Medline expects a $150 million to $200 million hit from tariffs to pre-tax income in fiscal 2026—a real headwind that investors will be watching closely.
CEO Jim Boyle told CNBC that Medline is “the largest company you’ve never heard of,” and the IPO provides an opportunity to amplify the company’s voice and expand brand recognition.
Boyle said Medline aims to be the “Costco of healthcare” for medical equipment buyers, drawing parallels with its private label products, large supply chain and strong vendor-customer relationships.
For the first nine months of 2025 (ended in September), Medline reported net income of $977 million on $20.65 billion in revenue, up from net income of $911 million on $18.72 billion in revenue over the same period a year earlier.
The company raked in $25.5 billion in net sales for all of 2024, and sales have grown every year since its founding.
MDLN stock now competes publicly with names like McKesson and Cardinal Health. The 41% pop suggests investors see room for Medline to carve out a bigger piece of the massive healthcare supply market, even as it navigates tariff pressures and works to reduce its hefty debt burden.
For now, the market is betting on the company’s scale, product breadth and private equity-backed operational improvements to drive long-term value.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
