MiniMed Group Inc (MMED) - What Are Analysts Thinking About This Stock?

Key Points

• Analysts are broadly positive: MiniMed has a “Moderate Buy” consensus among 19 analysts, with 14 buy, four hold, and one sell rating. The average 12-month price target is $24.25.
• Several firms raised targets: BTIG Research, Bank of America, and UBS lifted their targets to $28 and maintained buy ratings; Jefferies initiated coverage with a hold rating and a $22 target.
• Shares opened at $17.36 on Wednesday, down 2.9%; major investors including State Street and J. Goldman & Co. recently reported new positions in the company.

MiniMed Group Inc (NASDAQ:MMED - Get Free Report) has received a consensus rating of "Moderate Buy" from the nineteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.25.

A number of research analysts recently weighed in on the stock. Jefferies Financial Group began coverage on shares of MiniMed Group in a research report on Monday, October 12th. They issued a "hold" rating and a $22.00 target price for the company. BTIG Research lifted their price target on shares of MiniMed Group from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, September 1st. Weiss Ratings raised shares of MiniMed Group from a "sell (d-)" rating to a "sell (d)" rating in a research report on Wednesday, September 9th. Bank of America increased 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. Finally, UBS Group raised their price objective on MiniMed Group from $25.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, September 2nd.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State Street Corp bought a new position in MiniMed Group in the second quarter valued at approximately $6,029,000. Bank of America Corp DE raised its stake in shares of MiniMed Group by 377.0% during the 2nd quarter. Bank of America Corp DE now owns 238,819 shares of the company's stock worth $3,570,000 after purchasing an additional 188,756 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of MiniMed Group during the 2nd quarter worth approximately $1,058,000. Freestone Grove Partners LP bought a new stake in shares of MiniMed Group during the 2nd quarter worth approximately $1,745,000. Finally, J. Goldman & Co LP acquired a new stake in shares of MiniMed Group in the 2nd quarter valued at approximately $12,412,000.

MiniMed Group Stock Down 2.9%

NASDAQ MMED opened at $17.36 on Wednesday. MiniMed Group has a 12-month low of $10.65 and a 12-month high of $24.43. The company has a market capitalization of $4.88 billion and a PE ratio of -25.53. The firm's 50 day moving average is $19.92 and its 200-day moving average is $16.71.

About MiniMed Group

MiniMed Group focuses on diabetes technology, developing products and services to help people manage insulin-dependent diabetes. Its offerings include insulin pumps, continuous glucose monitoring systems, infusion sets and software for tracking glucose and coordinating insulin delivery. The business is known for automated insulin-delivery systems that use glucose readings to help adjust insulin delivery, including products in the MiniMed 780G system line. Its technologies are intended for use by people with diabetes and the clinicians who support their care.

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