MiniMed Group (NASDAQ:MMED) Hits New 1-Year Low - Should You Sell?

Key Points

• New 52-week low: MiniMed Group shares fell to $12.80 and last traded at $13.20 on heavy volume (1,122,969 shares), marking a fresh one-year low.
• Analysts remain mostly bullish: Eleven analysts rate the stock a Buy and one a Hold, with a consensus price target of $22.45 after multiple firms initiated coverage (targets range roughly $16–$25).
• Business profile: MiniMed is a scaled global medical-technology company that develops and commercializes an integrated diabetes-management system across devices and services.

MiniMed Group Inc (NASDAQ:MMED - Get Free Report) shares reached a new 52-week low on Wednesday . The company traded as low as $12.80 and last traded at $13.20, with a volume of 1122969 shares traded. The stock had previously closed at $13.23.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BTIG Research assumed coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They set a "buy" rating and a $25.00 target price on the stock. Morgan Stanley assumed coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They set an "overweight" rating and a $19.00 target price on the stock. Piper Sandler assumed coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They set a "neutral" rating and a $16.00 target price 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 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They issued a "buy" rating and a $20.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.45.

MiniMed Group Stock Performance

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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