Wells Fargo & Company Increases MiniMed Group (NASDAQ:MMED) Price Target to $26.00

Key Points

• Wells Fargo raised MiniMed Group’s price target to $26 from $22 and maintained an “overweight” rating, implying 8.05% upside from the prior close.
• Analyst sentiment is broadly positive: UBS and BTIG increased their targets to $28, while 13 analysts rate the stock a Buy. The consensus rating is “Moderate Buy,” with an average price target of $23.38.
• MiniMed shares rose to $24.06, near their 12-month high of $24.43. The company’s latest quarter showed revenue growth of 15.6% year over year, though it missed EPS expectations by $0.46.

MiniMed Group (NASDAQ:MMED - Get Free Report) had its price target hoisted by investment analysts at Wells Fargo & Company from $22.00 to $26.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 8.05% from the company's previous close.

Several other brokerages have also issued reports on MMED. UBS Group lifted their price target on shares of MiniMed Group from $25.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday. BTIG Research raised their target price on shares of MiniMed Group from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Tuesday. Weiss Ratings raised shares of MiniMed Group from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, July 20th. Piper Sandler reiterated a "neutral" rating and issued a $16.00 price target on shares of MiniMed Group in a research note on Thursday, June 4th. Finally, Benchmark reissued a "buy" rating on shares of MiniMed Group in a report on Thursday, June 4th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.38.

MiniMed Group Stock Performance

Shares of MMED stock traded up $1.64 on Wednesday, hitting $24.06. 924,645 shares of the company's stock were exchanged, compared to its average volume of 1,085,106. The stock's 50 day moving average is $17.65. The company has a market capitalization of $6.77 billion and a PE ratio of -35.51. MiniMed Group has a 12 month low of $10.65 and a 12 month high of $24.43.

MiniMed Group (NASDAQ:MMED - Get Free Report) last released its earnings results on Wednesday, June 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.46). The business had revenue of $837.00 million during the quarter. MiniMed Group's quarterly revenue was up 15.6% on a year-over-year basis. As a group, analysts predict that MiniMed Group will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On MiniMed Group

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

Key MiniMed Group News

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

• Positive Sentiment: MiniMed reported fiscal Q1 net sales of $843 million, up 17% year over year, while organic U.S. revenue growth accelerated to 13%. International sales also grew strongly, supporting management’s decision to raise its fiscal 2027 organic revenue-growth guidance. MiniMed Delivers Strong Start to Fiscal Year 2027 with U.S. Growth Acceleration
• Positive Sentiment: Fiscal Q1 earnings per share of approximately $0 exceeded analyst expectations, contributing to the favorable initial market reaction. Earnings Flash: MiniMed Posts Fiscal Q1 EPS
• Positive Sentiment: MiniMed highlighted progress across its product pipeline, including an FDA submission for MiniMed Fit, a CE Mark for MiniMed Flex, completion of enrollment in the Vivera pivotal trial and IDE approval for a next-generation extended-wear sensor. MiniMed Group Q1 2027 Deep Dive
• Positive Sentiment: Analyst sentiment strengthened after the results. Mizuho raised its target from $21 to $26 with an “outperform” rating; Bank of America lifted its target from $24 to $28 with a “buy” rating; and BTIG also raised its target to $28 and maintained a “buy” rating.
• Negative Sentiment: The reported brokerage consensus target of $21.62 remains below the stock’s recent trading level, indicating that not all analysts have fully reflected the latest operating momentum in their estimates. MiniMed Receives Consensus Target Price from Brokerages

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.

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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