BTIG Research Increases MiniMed Group (NASDAQ:MMED) Price Target to $28.00

MiniMed Group (NASDAQ:MMED) had its target price hoisted by stock analysts at BTIG Research from $25.00 to $28.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 26.63% from the stock’s previous close.

MMED has been the subject of a number of other reports. Benchmark restated a “buy” rating on shares of MiniMed Group in a research report on Thursday, June 4th. Wells Fargo & Company decreased their target price on shares of MiniMed Group from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Piper Sandler reiterated a “neutral” rating and issued a $16.00 target price on shares of MiniMed Group in a research note on Thursday, June 4th. UBS Group started coverage on shares of MiniMed Group in a report on Tuesday, July 28th. They issued a “buy” rating and a $25.00 price target for the company. Finally, Weiss Ratings upgraded MiniMed Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MiniMed Group has an average rating of “Moderate Buy” and a consensus target price of $21.85.

MiniMed Group Stock Performance

MMED traded up $1.85 during trading on Tuesday, reaching $22.11. 2,860,820 shares of the company were exchanged, compared to its average volume of 1,059,883. The company has a 50-day simple moving average of $17.47. The stock has a market cap of $6.22 billion and a P/E ratio of -32.72. MiniMed Group has a 12-month low of $10.65 and a 12-month high of $22.63.

MiniMed Group (NASDAQ:MMED) last posted its earnings results 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 business had revenue of $837.00 million during the quarter. The company’s revenue was up 15.6% compared to the same quarter last year. Equities analysts predict that MiniMed Group will post 0.66 earnings per share for the current year.

Institutional Trading of MiniMed Group

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System bought a new stake in MiniMed Group during the second quarter worth about $89,000. Legal & General Group Plc purchased a new position in shares of MiniMed Group during the 2nd quarter valued at about $91,000. The Manufacturers Life Insurance Company purchased a new position in shares of MiniMed Group during the 2nd quarter valued at about $185,000. Punch & Associates Investment Management Inc. purchased a new stake in MiniMed Group in the second quarter worth approximately $292,000. Finally, Washington Growth Strategies LLC purchased a new stake in MiniMed Group in the second quarter worth approximately $397,000.

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.