MiniMed Group (NASDAQ:MMED) Now Covered by Analysts at UBS Group

Key Points

• UBS Group initiated coverage of MiniMed Group with a “buy” rating and a $25 price target, implying 41.48% potential upside from the stock’s current price.
• Analyst sentiment is broadly positive: 13 analysts rate the stock a Buy, two rate it Hold, and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $21.62.
• MiniMed shares opened at $17.67 and were up 5.0%, but the company recently missed quarterly earnings expectations, reporting a $0.68 per-share loss versus a projected $0.22 loss, despite 15.6% year-over-year revenue growth to $837 million.

Investment analysts at UBS Group assumed coverage on shares of MiniMed Group (NASDAQ:MMED - Get Free Report) in a report issued on Tuesday. The brokerage set a "buy" rating and a $25.00 price target on the stock. UBS Group's price target indicates a potential upside of 41.48% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. Mizuho initiated coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They set an "outperform" rating and a $21.00 price target for the company. Benchmark reiterated a "buy" rating on shares of MiniMed Group in a research note on Thursday, June 4th. Bank of America reduced their target price on MiniMed Group from $27.00 to $20.00 and set a "buy" rating for the company in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft began coverage on MiniMed Group in a report on Tuesday, March 31st. They set a "buy" rating and a $20.00 price target on the stock. Finally, Wells Fargo & Company dropped their price objective on MiniMed Group from $26.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, June 4th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $21.62.

MiniMed Group Trading Up 5.0%

MMED opened at $17.67 on Tuesday. The stock has a market cap of $4.96 billion and a price-to-earnings ratio of -25.99. The stock has a 50-day moving average of $14.44. MiniMed Group has a 1 year low of $10.65 and a 1 year high of $20.48.

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

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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