MiniMed Group (NASDAQ:MMED) Trading Up 7.8% Following Analyst Upgrade

MiniMed Group Inc (NASDAQ:MMED) rose 7.8% during mid-day trading on Wednesday after UBS Group raised their price target on the stock from $25.00 to $28.00. UBS Group currently has a buy rating on the stock. MiniMed Group traded as high as $24.23 and last traded at $24.17. Approximately 434,900 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 1,083,547 shares. The stock had previously closed at $22.42.

Several other equities research analysts have also commented on the company. Piper Sandler restated a “neutral” rating and set a $16.00 price target on shares of MiniMed Group in a research note on Thursday, June 4th. Weiss Ratings upgraded MiniMed Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. Bank of America lifted their price target on shares of MiniMed Group from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday. Mizuho upped their target price on shares of MiniMed Group from $21.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company decreased their price objective on shares of MiniMed Group from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.08.

Key MiniMed Group News

Here are the key news stories impacting MiniMed Group this week:

• Positive Sentiment: MiniMed reported fiscal Q1 net sales of $843 million, up 17% year over year, while organic U.S. revenue growth accelerated to 13%. International sales also grew strongly, supporting management’s decision to raise its fiscal 2027 organic revenue-growth guidance. MiniMed Delivers Strong Start to Fiscal Year 2027 with U.S. Growth Acceleration
• Positive Sentiment: Fiscal Q1 earnings per share of approximately $0 exceeded analyst expectations, contributing to the favorable initial market reaction. Earnings Flash: MiniMed Posts Fiscal Q1 EPS
• Positive Sentiment: MiniMed highlighted progress across its product pipeline, including an FDA submission for MiniMed Fit, a CE Mark for MiniMed Flex, completion of enrollment in the Vivera pivotal trial and IDE approval for a next-generation extended-wear sensor. MiniMed Group Q1 2027 Deep Dive
• Positive Sentiment: Analyst sentiment strengthened after the results. Mizuho raised its target from $21 to $26 with an “outperform” rating; Bank of America lifted its target from $24 to $28 with a “buy” rating; and BTIG also raised its target to $28 and maintained a “buy” rating.
• Negative Sentiment: The reported brokerage consensus target of $21.62 remains below the stock’s recent trading level, indicating that not all analysts have fully reflected the latest operating momentum in their estimates. MiniMed Receives Consensus Target Price from Brokerages

Hedge Funds Weigh In On MiniMed Group

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

MiniMed Group Stock Up 6.6%

The company has a market capitalization of $6.73 billion and a price-to-earnings ratio of -35.27. The company’s 50 day moving average is $17.65.

MiniMed Group (NASDAQ:MMED) last posted its quarterly earnings data 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 firm had revenue of $837.00 million for the quarter. The company’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities research analysts forecast that MiniMed Group Inc will post 0.66 EPS for the current fiscal year.

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.