MiniMed Group (NASDAQ:MMED) Sees Unusually-High Trading Volume – Here’s What Happened

MiniMed Group Inc (NASDAQ:MMED) saw an uptick in trading volume on Tuesday. 3,318,752 shares traded hands during 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.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MMED shares. Truist Financial assumed coverage on MiniMed Group in a report on Thursday, September 24th. They set a “buy” rating and a $29.00 price target for the company. UBS Group raised their price objective on MiniMed Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Barclays assumed coverage on shares of MiniMed Group in a report on Wednesday, October 7th. They set an “equal weight” rating and a $22.00 price objective on the stock. Morgan Stanley upped their target price on shares of MiniMed Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Finally, Citigroup increased their target price on shares of MiniMed Group from $23.00 to $26.00 and gave the company a “buy” rating in a report 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’s stock. According to data from MarketBeat.com, MiniMed Group has a consensus rating of “Moderate Buy” and a consensus price target of $24.25.

MiniMed Group Stock Down 8.6%

The firm has a fifty day moving average of $20.58 and a two-hundred day moving average of $16.47.

Institutional Inflows and Outflows

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

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.