MiniMed Group (NASDAQ:MMED) Hits New 52-Week Low – What’s Next?

Shares of MiniMed Group Inc (NASDAQ:MMED) hit a new 52-week low on Wednesday . The company traded as low as $11.52 and last traded at $11.68, with a volume of 452520 shares trading hands. The stock had previously closed at $11.87.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of MiniMed Group to a “hold” rating in a report on Saturday, March 14th. The Goldman Sachs Group assumed coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They issued a “buy” rating and a $24.00 price objective for the company. Barclays initiated coverage on MiniMed Group in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $26.00 target price on the stock. Bank of America began coverage on MiniMed Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $27.00 target price on the stock. Finally, Zacks Research raised MiniMed Group to a “hold” rating in a research report on Thursday, April 9th. 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, MiniMed Group has a consensus rating of “Moderate Buy” and an average target price of $22.45.

MiniMed Group Stock Down 0.8%

The business’s 50 day moving average is $14.63.

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.