MiniMed Group Inc (NASDAQ:MMED) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• MiniMed Group has a consensus analyst rating of “Moderate Buy” from 15 covering firms, with 12 buy ratings, two holds, and one sell. The average 12-month price target is $21.33.
• The stock was down 2.3% and opened at $15.02, compared with a 52-week range of $10.65 to $20.48. Its market capitalization is about $4.22 billion.
• In its latest quarterly results, MiniMed reported EPS of -$0.68, missing estimates, while revenue came in at $837 million and rose 15.6% year over year. The company says it is a global diabetes management technology provider and the only player commercializing all parts of an integrated diabetes management system.

MiniMed Group Inc (NASDAQ:MMED - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fifteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.3333.

A number of equities analysts have issued reports on the stock. BTIG Research started coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They set a "buy" rating and a $25.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They set a "buy" rating and a $20.00 price target on the stock. Citigroup began coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They set a "buy" rating and a $23.00 price target on the stock. Weiss Ratings downgraded shares of MiniMed Group from a "sell (d)" rating to a "sell (e+)" rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of MiniMed Group to a "hold" rating in a research note on Saturday, March 14th.

MiniMed Group Stock Down 2.3%

MMED stock opened at $15.02 on Thursday. MiniMed Group has a twelve month low of $10.65 and a twelve month high of $20.48. The firm has a 50 day moving average of $13.25. The company has a market capitalization of $4.22 billion and a price-to-earnings ratio of -22.09.

MiniMed Group (NASDAQ:MMED - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.46). The company had revenue of $837.00 million during the quarter. The company's quarterly revenue was up 15.6% on a year-over-year basis.

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.

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