Cramer Praises Medline’s Strong IPO Debut but Urges Patience on Price
The medical-supplies company raised $6.26 billion in 2025’s biggest U.S. listing after a first-day surge that left valuation looking stretched.
Overview
- Shares jumped more than 41% on day one, opening around $35 after pricing at $29.
- Jim Cramer said the stock looks “a little too expensive” and suggested waiting for a pullback, adding that a buy near roughly $32 could make sense.
- His back-of-the-envelope math puts annualized EPS near $0.91, implying about 45 times earnings, with enterprise value near $70 billion and EV/EBITDA around 20.
- The offering was upsized to more than 216 million shares and left Medline’s market value near $54 billion at the quoted opening price.
- The deal, backed by Blackstone, Carlyle and Hellman, stands out as the largest IPO of the year despite the company having no AI angle.