MiniMed Group (NASDAQ:MMED) Reaches New 1-Year Low - Time to Sell?

Key Points

• Price action: MiniMed Group hit a new 52-week low, trading as low as $12.80 and last at $12.925 (down about 3.3%) on volume of 92,965 shares.
• Analyst sentiment: Analysts are mostly positive—11 Buys and 2 Holds—with a consensus rating of "Moderate Buy" and a consensus target price of $22.45 (individual targets range roughly $16–$26).
• Recent results: The company recently reported quarterly earnings showing $999.00 per share (as stated in the release) and highlights its position as a scaled global diabetes-technology company.

MiniMed Group Inc (NASDAQ:MMED - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The company traded as low as $12.80 and last traded at $12.9250, with a volume of 92965 shares changing hands. The stock had previously closed at $13.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays assumed coverage on MiniMed Group in a report on Wednesday, April 1st. They set an "overweight" rating and a $26.00 price target on the stock. Piper Sandler started coverage on MiniMed Group in a research report on Tuesday, March 31st. They issued a "neutral" rating and a $16.00 target price on the stock. Zacks Research upgraded MiniMed Group to a "hold" rating in a research report on Thursday, April 9th. Mizuho started coverage on MiniMed Group in a research report on Tuesday, March 31st. They issued an "outperform" rating and a $21.00 target price on the stock. Finally, Citigroup started coverage on MiniMed Group in a research report on Tuesday, March 31st. They issued a "buy" rating and a $23.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.45.

MiniMed Group Stock Down 3.3%

MiniMed Group (NASDAQ:MMED - Get Free Report) last issued its quarterly earnings data on Friday, April 17th. The company reported $999.00 earnings per share for the quarter.

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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