MiniMed Group (NASDAQ:MMED) Now Covered by Analysts at Barclays

Key Points

• Barclays initiated coverage of MiniMed Group with an “equal weight” rating and a $22 price target, implying approximately 12% upside from the stock’s current price.
• Analyst sentiment is broadly positive: 13 analysts rate MMED a Buy, three rate it Hold, and one rates it Sell, producing a “Moderate Buy” consensus and an average target price of $23.86.
• MiniMed shares opened at $19.64 and were down 2.6%, while major institutions—including BlackRock and Bank of America—expanded their holdings during the second quarter.

Equities research analysts at Barclays started coverage on shares of MiniMed Group (NASDAQ:MMED - Get Free Report) in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage set an "equal weight" rating and a $22.00 price target on the stock. Barclays's target price would indicate a potential upside of 12.02% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Mizuho increased their price objective on shares of MiniMed Group from $21.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, September 2nd. Truist Financial began coverage on shares of MiniMed Group in a report on Thursday, September 24th. They issued a "buy" rating and a $29.00 price target on the stock. Bank of America raised their price objective on shares of MiniMed Group from $24.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Citigroup lifted their price objective on MiniMed Group from $23.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Finally, UBS Group upped their price objective on MiniMed Group from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, September 2nd. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $23.86.

MiniMed Group Stock Down 2.6%

Shares of MiniMed Group stock opened at $19.64 on Wednesday. MiniMed Group has a 52-week low of $10.65 and a 52-week high of $24.43. The firm has a market cap of $5.53 billion and a price-to-earnings ratio of -28.88. The company's 50-day simple moving average is $20.55 and its 200-day simple moving average is $16.36.

Institutional Trading of MiniMed Group

Several institutional investors and hedge funds have recently bought and sold shares of MMED. BlackRock Inc. lifted its position in MiniMed Group by 7,527.5% during the 2nd quarter. BlackRock Inc. now owns 1,996,489 shares of the company's stock worth $29,848,000 after buying an additional 1,970,314 shares in the last quarter. J. Goldman & Co LP acquired a new position in shares of MiniMed Group during the 2nd quarter worth approximately $12,412,000. State Street Corp acquired a new stake in shares of MiniMed Group during the 2nd quarter worth about $6,029,000. Readystate Asset Management LP bought a new stake in shares of MiniMed Group during the second quarter worth approximately $4,400,000. Finally, Bank of America Corp DE lifted its holdings in shares of MiniMed Group by 377.0% during the second quarter. Bank of America Corp DE now owns 238,819 shares of the company's stock worth $3,570,000 after buying an additional 188,756 shares in the last quarter.

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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