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

Key Points

• New 52-week low: MiniMed Group hit a new 52‑week low, trading as low as $12.01 and last at $12.02 (down about 7.1% from the prior close of $12.94) on volume of 659,743 shares.
• Analyst sentiment is largely positive: Eleven analysts rate the stock Buy and two Hold, giving a consensus rating of "Moderate Buy" and a consensus target price of $22.45, with notable targets including Wells Fargo $26 and Citigroup $23.
• Business focus: MiniMed Group is a global medical‑technology company that develops and commercializes an integrated diabetes management system, covering pumps, sensors, and related solutions.

MiniMed Group Inc (NASDAQ:MMED - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $12.01 and last traded at $12.02, with a volume of 659743 shares trading hands. The stock had previously closed at $12.94.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Mizuho assumed coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They issued an "outperform" rating and a $21.00 target price for the company. Wells Fargo & Company assumed coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They issued an "overweight" rating and a $26.00 target price for the company. Evercore assumed coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They issued an "outperform" rating and a $20.00 target price for the company. Piper Sandler assumed coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They issued a "neutral" rating and a $16.00 target price for the company. Finally, Citigroup assumed coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They issued a "buy" rating and a $23.00 target price for the company. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.45.

MiniMed Group Stock Down 7.1%

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.

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.