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

Key Points

• Analysts have a “Moderate Buy” consensus on MiniMed Group, with 13 buy ratings, two holds and one sell among 16 firms. The average 12-month price target is $21.62, above the stock’s reported $18.05 opening price.
• Recent analyst actions were mixed but generally positive: Wells Fargo and Bank of America cut their price targets, while UBS initiated coverage with a buy rating and a $25 target.
• MiniMed reported quarterly revenue of $837 million, up 15.6% year over year, but its adjusted loss of $0.68 per share significantly missed the $0.22 loss analysts expected.

Shares of MiniMed Group Inc (NASDAQ:MMED - Get Free Report) have been given an average rating of "Moderate Buy" by the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.6154.

MMED has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target on MiniMed Group from $26.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, June 4th. UBS Group started coverage on shares of MiniMed Group in a research note on Tuesday, July 28th. They issued a "buy" rating and a $25.00 target price for the company. Piper Sandler restated a "neutral" rating and set a $16.00 price target on shares of MiniMed Group in a research note on Thursday, June 4th. Benchmark reissued a "buy" rating on shares of MiniMed Group in a research report on Thursday, June 4th. Finally, Bank of America lowered their price target on MiniMed Group from $27.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, May 18th.

MiniMed Group Price Performance

Shares of MMED stock opened at $18.05 on Monday. The company has a market cap of $5.07 billion and a price-to-earnings ratio of -26.54. MiniMed Group has a 52-week low of $10.65 and a 52-week high of $20.48. The business's 50 day simple moving average is $14.96.

MiniMed Group (NASDAQ:MMED - Get Free Report) last posted its quarterly 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 firm had revenue of $837.00 million during the quarter. The business's quarterly revenue was up 15.6% compared to the same quarter last year.

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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