MiniMed Group (NASDAQ:MMED) Sees Large Volume Increase - What's Next?

Key Points

• Trading volume surged 56% to 3.32 million shares, while MiniMed Group shares rose 0.7% to approximately $19.07.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $24.25; recent targets range from $22 to $29.
• Institutional investors, including Legal & General, Manulife, Winton Group, and Punch & Associates, recently established or expanded positions in the company.

MiniMed Group Inc (NASDAQ:MMED - Get Free Report) shares saw strong trading volume on Tuesday. 3,318,752 shares traded hands during mid-day trading, an increase of 56% from the previous session's volume of 2,123,232 shares. The stock last traded at $19.0660 and had previously closed at $18.80.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MMED shares. Mizuho increased their target price on shares of MiniMed Group from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Thursday, October 8th. Truist Financial initiated coverage on shares of MiniMed Group in a research report on Thursday, September 24th. They set a "buy" rating and a $29.00 price objective for the company. Citigroup upped their price target on MiniMed Group from $23.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Jefferies Financial Group began coverage on MiniMed Group in a report on Monday. They set a "hold" rating and a $22.00 target price on the stock. Finally, Bank of America boosted their price objective on shares of MiniMed Group from $24.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Fourteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.25.

MiniMed Group Stock Up 0.7%

The company has a market cap of $5.33 billion and a price-to-earnings ratio of -27.83. The stock has a fifty day moving average price of $20.63 and a two-hundred day moving average price of $16.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust acquired a new position in shares of MiniMed Group during the second quarter worth $28,000. Legal & General Group Plc acquired a new stake in MiniMed Group during the 2nd quarter worth about $91,000. The Manufacturers Life Insurance Company bought a new stake in MiniMed Group in the second quarter worth approximately $185,000. WINTON GROUP Ltd bought a new position in shares of MiniMed Group during the 2nd quarter worth approximately $273,000. Finally, Punch & Associates Investment Management Inc. bought a new stake in MiniMed Group in the 2nd quarter valued at about $292,000.

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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