MiniMed Group (NASDAQ:MMED) Coverage Initiated at Truist Financial

Key Points

• Truist Financial initiated coverage of MiniMed Group with a “buy” rating and a $29 price target, implying 41.19% upside from the prior close.
• Analyst sentiment is broadly positive: 14 analysts rate the stock a Buy, two rate it Hold, and one rates it Sell, producing a consensus “Moderate Buy” rating and $24.14 price target.
• MiniMed shares opened at $20.54, with a $5.78 billion market capitalization and a 12-month trading range of $10.65 to $24.43.

Investment analysts at Truist Financial initiated coverage on shares of MiniMed Group (NASDAQ:MMED - Get Free Report) in a report issued on Thursday, Briefing.com reports. The brokerage set a "buy" rating and a $29.00 price target on the stock. Truist Financial's price target indicates a potential upside of 41.19% from the stock's previous close.

A number of other brokerages have also commented on MMED. Weiss Ratings upgraded shares of MiniMed Group from a "sell (d-)" rating to a "sell (d)" rating in a research note on Wednesday, September 9th. Wells Fargo & Company lifted their price objective on MiniMed Group from $22.00 to $26.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 2nd. Benchmark restated a "buy" rating on shares of MiniMed Group in a report on Thursday, June 4th. Citigroup boosted their target price on shares of MiniMed Group from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Finally, UBS Group lifted their price objective on shares of MiniMed Group from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.14.

MiniMed Group Stock Down 3.1%

Shares of MiniMed Group stock opened at $20.54 on Thursday. The stock has a market cap of $5.78 billion and a P/E ratio of -30.21. MiniMed Group has a 12-month low of $10.65 and a 12-month high of $24.43. The business's 50 day moving average is $19.99 and its 200-day moving average is $16.17.

Institutional Investors Weigh In On MiniMed Group

Large investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust purchased a new position in shares of MiniMed Group in the second quarter valued at about $28,000. Legal & General Group Plc bought a new stake in MiniMed Group in the second quarter worth $91,000. The Manufacturers Life Insurance Company bought a new position in shares of MiniMed Group during the second quarter valued at approximately $185,000. WINTON GROUP Ltd bought a new position in MiniMed Group in the 2nd quarter worth about $273,000. Finally, Punch & Associates Investment Management Inc. bought a new stake in shares of MiniMed Group in the 2nd quarter valued at about $292,000.

MiniMed Group Company Profile

We are a scaled global medical technology company that develops, manufactures, and markets a comprehensive suite of solutions for the management of diabetes. Since our founding more than 40 years ago, we have pioneered groundbreaking innovation and served the needs of our customers across the globe in service of our mission to make every day a better day for people with diabetes. Today, we are the only player in the market that commercializes all parts of an integrated diabetes management system.

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