Bank of New York Mellon Corp Invests $1.06 Million in MiniMed Group Inc $MMED

Key Points

• Bank of New York Mellon acquired 70,798 shares of MiniMed Group in the second quarter, representing an investment of approximately $1.06 million.
• MiniMed shares opened at $22.44, with a market capitalization of $6.31 billion and a 52-week trading range of $10.65 to $24.43.
• Analyst sentiment is broadly positive: 13 analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $23.77.

Bank of New York Mellon Corp bought a new stake in shares of MiniMed Group Inc (NASDAQ:MMED - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 70,798 shares of the company's stock, valued at approximately $1,058,000.

MiniMed Group Price Performance

NASDAQ MMED opened at $22.44 on Friday. The stock's fifty day moving average is $18.84. The firm has a market capitalization of $6.31 billion and a price-to-earnings ratio of -33.00. MiniMed Group Inc has a fifty-two week low of $10.65 and a fifty-two week high of $24.43.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MMED shares. Morgan Stanley increased their price objective on shares of MiniMed Group from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. Benchmark reissued a "buy" rating on shares of MiniMed Group in a research note on Thursday, June 4th. Citigroup raised their price target on shares of MiniMed Group from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Mizuho lifted their price objective on MiniMed Group from $21.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, September 2nd. Finally, Piper Sandler reissued a "neutral" rating and set a $16.00 target price on shares of MiniMed Group in a report on Thursday, June 4th. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.77.

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.

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