Parkman Healthcare Partners LLC Decreases Holdings in MiniMed Group Inc $MMED

Parkman Healthcare Partners LLC trimmed its position in shares of MiniMed Group Inc (NASDAQ:MMED) by 28.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,446 shares of the company’s stock after selling 90,878 shares during the quarter. Parkman Healthcare Partners LLC’s holdings in MiniMed Group were worth $3,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of MiniMed Group in the second quarter worth $91,000. The Manufacturers Life Insurance Company bought a new position in MiniMed Group in the second quarter valued at about $185,000. Deutsche Bank AG bought a new position in MiniMed Group in the second quarter valued at about $420,000. Bank of New York Mellon Corp purchased a new position in MiniMed Group in the second quarter worth about $1,058,000. Finally, BlackRock Inc. grew its stake in shares of MiniMed Group by 7,527.5% during the 2nd quarter. BlackRock Inc. now owns 1,996,489 shares of the company’s stock valued at $29,848,000 after purchasing an additional 1,970,314 shares during the period.

Analysts Set New Price Targets

Several research firms have recently commented on MMED. Bank of America reduced 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 report on Monday, May 18th. 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. Piper Sandler reaffirmed a “neutral” rating and set a $16.00 target price on shares of MiniMed Group in a report on Thursday, June 4th. UBS Group assumed coverage on shares of MiniMed Group in a research report on Tuesday, July 28th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, Benchmark reiterated a “buy” rating on shares of MiniMed Group in a research note on Thursday, June 4th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.62.

MiniMed Group Stock Performance

Shares of MMED opened at $19.94 on Tuesday. The stock has a 50-day moving average of $16.96. MiniMed Group Inc has a 52 week low of $10.65 and a 52 week high of $20.88. The stock has a market capitalization of $5.60 billion and a PE ratio of -29.32.

MiniMed Group (NASDAQ:MMED) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The firm had revenue of $837.00 million during the quarter. The business’s revenue was up 15.6% compared to the same quarter last year. Equities research analysts forecast that MiniMed Group Inc will post 0.66 EPS for the current year.

MiniMed Group 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.