MiniMed Group Inc (NASDAQ:MMED) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• MiniMed Group has a consensus “Moderate Buy” rating from 16 analysts: 13 rate it a buy, two a hold, and one a sell.
• Analysts’ average 12-month price target is $23.77, above the stock’s opening price of $21.12; several firms recently raised their targets to between $26 and $28.
• MMED has a $5.94 billion market capitalization and has traded between $10.65 and $24.43 over the past year, while several institutional investors recently initiated positions.

MiniMed Group Inc (NASDAQ:MMED - Get Free Report) has earned a consensus rating of "Moderate Buy" from the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $23.7692.

Several brokerages have weighed in on MMED. Bank of America boosted their price objective on MiniMed Group from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. UBS Group lifted their price target on shares of MiniMed Group from $25.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Piper Sandler reaffirmed a "neutral" rating and issued a $16.00 price objective on shares of MiniMed Group in a research note on Thursday, June 4th. Wells Fargo & Company upped their target price on shares of MiniMed Group from $22.00 to $26.00 and gave the company an "overweight" rating in a research report on Wednesday, September 2nd. Finally, Mizuho increased their price target on MiniMed Group from $21.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, September 2nd.

MiniMed Group Price Performance

Shares of MMED stock opened at $21.12 on Tuesday. The firm has a market capitalization of $5.94 billion and a price-to-earnings ratio of -31.06. The business's 50 day moving average is $19.76. MiniMed Group has a 1 year low of $10.65 and a 1 year high of $24.43.

Institutional Investors Weigh In On MiniMed Group

Several hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new stake in shares of MiniMed Group in the second quarter valued at about $185,000. WINTON GROUP Ltd acquired a new stake in shares of MiniMed Group in the 2nd quarter valued at approximately $273,000. Engineers Gate Manager LP acquired a new stake in shares of MiniMed Group in the 2nd quarter valued at approximately $513,000. Squarepoint Ops LLC bought a new position in shares of MiniMed Group in the second quarter valued at $403,000. Finally, Parkside Financial Bank & Trust acquired a new position in MiniMed Group during the second quarter worth $28,000.

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.

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.