MiniMed Group (NASDAQ:MMED) Price Target Raised to $26.00 at Citigroup

Key Points

• Citigroup raised MiniMed Group’s price target to $26 from $23 and maintained a “buy” rating, implying approximately 9.1% upside from the prior close.
• Analyst sentiment remains favorable, with 13 Buy ratings, two Holds and one Sell; recent target increases from Bank of America, Mizuho and BTIG lifted their objectives to as high as $28.
• MiniMed reported quarterly revenue of $837 million, up 15.6% year over year, but its adjusted loss of $0.68 per share significantly missed the $0.22 consensus estimate. Shares rose to $23.83, near the 52-week high of $24.43.

MiniMed Group (NASDAQ:MMED - Get Free Report) had its price target increased by Citigroup from $23.00 to $26.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 9.10% from the stock's previous close.

Several other brokerages have also commented on MMED. Weiss Ratings upgraded shares of MiniMed Group from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, July 20th. Benchmark reaffirmed a "buy" rating on shares of MiniMed Group in a research report on Thursday, June 4th. Bank of America increased their price objective on shares of MiniMed Group from $24.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday. Mizuho increased their price objective on MiniMed Group from $21.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, BTIG Research raised their target price on MiniMed Group from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.62.

MiniMed Group Stock Performance

Shares of MiniMed Group stock traded up $1.41 during trading on Wednesday, hitting $23.83. The stock had a trading volume of 2,923,882 shares, compared to its average volume of 1,102,700. The firm's fifty day simple moving average is $17.65. MiniMed Group has a fifty-two week low of $10.65 and a fifty-two week high of $24.43. The stock has a market capitalization of $6.70 billion and a price-to-earnings ratio of -35.18.

MiniMed Group (NASDAQ:MMED - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.46). The firm had revenue of $837.00 million during the quarter. The business's quarterly revenue was up 15.6% compared to the same quarter last year. On average, analysts predict that MiniMed Group will post 0.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new position in shares of MiniMed Group in the second quarter valued at approximately $89,000. Legal & General Group Plc purchased a new position in MiniMed Group during the 2nd quarter valued at about $91,000. The Manufacturers Life Insurance Company purchased a new position in MiniMed Group during the 2nd quarter valued at about $185,000. Punch & Associates Investment Management Inc. purchased a new stake in MiniMed Group in the 2nd quarter worth approximately $292,000. Finally, Washington Growth Strategies LLC bought a new position in MiniMed Group in the 2nd quarter valued at $397,000.

MiniMed Group News Roundup

Here are the key news stories impacting MiniMed Group this week:

• Positive Sentiment: MiniMed reported fiscal Q1 revenue of approximately $843 million, up 17% year over year, with organic U.S. sales growth accelerating to 13% and international sales increasing 17% organically. The company also reported adjusted EPS of about $0, which exceeded analyst expectations. MiniMed Delivers Strong Start to Fiscal Year 2027 with U.S. Growth Acceleration
• Positive Sentiment: The company raised its fiscal 2027 organic revenue-growth guidance, adding support to the bullish outlook. Its product pipeline is also progressing, including FDA submission for MiniMed Fit™, CE Mark progress for MiniMed Flex™, completion of enrollment in the Vivera™ FCL pivotal U.S. trial, and IDE approval for a next-generation extended-wear sensor. MiniMed Group Q1 2027 Deep Dive
• Positive Sentiment: Several analysts raised their price targets after the results. Wells Fargo lifted its target to $26 and initiated an “overweight” rating; UBS raised its target to $28 with a “buy” rating; Mizuho increased its target to $26 with an “outperform” rating; and Bank of America raised its target to $28 with a “buy” rating. BTIG previously raised its target to $28 and also maintained a “buy” rating. Analysts Boost Forecasts Following Q1 Sales Results
• Neutral Sentiment: Despite the upgrades, the reported brokerage consensus target of $21.62 remains below the recent share price, suggesting some analysts may view the stock as fully valued after its sharp advance. MiniMed Receives Consensus Target Price

About MiniMed Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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