MiniMed Group Inc (NASDAQ:MMED) Receives $21.62 Consensus Target Price from Analysts

MiniMed Group Inc (NASDAQ:MMED) has earned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $21.6154.

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of MiniMed Group from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. UBS Group assumed coverage on shares of MiniMed Group in a research note on Tuesday, July 28th. They issued a “buy” rating and a $25.00 price objective for the company. Benchmark reaffirmed a “buy” rating on shares of MiniMed Group in a report on Thursday, June 4th. Weiss Ratings upgraded shares of MiniMed Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. Finally, Bank of America lowered their price target on shares of MiniMed Group from $27.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, May 18th.

MiniMed Group Stock Performance

MiniMed Group stock opened at $19.60 on Monday. MiniMed Group has a fifty-two week low of $10.65 and a fifty-two week high of $20.48. The stock has a market cap of $5.50 billion and a PE ratio of -28.82. The firm’s fifty day moving average is $15.71.

MiniMed Group (NASDAQ:MMED) last announced its earnings results on Wednesday, June 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.46). The company had revenue of $837.00 million for the quarter. MiniMed Group’s revenue was up 15.6% on a year-over-year basis. On average, equities research analysts forecast that MiniMed Group will post 0.68 EPS for the current year.

Hedge Funds Weigh In On MiniMed Group

A number of large investors have recently bought and sold shares of the stock. Deutsche Bank AG bought a new stake in MiniMed Group in the second quarter valued at approximately $420,000. Bank of New York Mellon Corp bought a new position in shares of MiniMed Group in the second quarter worth approximately $1,058,000. Finally, BlackRock Inc. increased its stake in shares of MiniMed Group by 7,527.5% in the second quarter. BlackRock Inc. now owns 1,996,489 shares of the company’s stock worth $29,848,000 after buying an additional 1,970,314 shares during the period.

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.