MiniMed Group Inc (NASDAQ:MMED) Stock Has Consensus Price Target of $23.77 According to Brokerages

MiniMed Group Inc (NASDAQ:MMED) has earned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $24.14.

Several equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of MiniMed Group from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Mizuho increased their price target on MiniMed Group from $21.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, September 2nd. Weiss Ratings upgraded shares of MiniMed Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, September 9th. Benchmark reissued a “buy” rating on shares of MiniMed Group in a research report on Thursday, June 4th. Finally, Bank of America upped their target price on shares of MiniMed Group from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd.

MiniMed Group Stock Down 2.3%

Shares of MMED stock opened at $19.98 on Tuesday. MiniMed Group has a fifty-two week low of $10.65 and a fifty-two week high of $24.43. The firm’s 50 day moving average price is $20.14 and its two-hundred day moving average price is $16.23. The stock has a market cap of $5.62 billion and a price-to-earnings ratio of -29.38.

Institutional Trading of MiniMed Group

Several large investors have recently modified their holdings of MMED. State Street Corp purchased a new stake in shares of MiniMed Group during the second quarter worth about $6,029,000. The Manufacturers Life Insurance Company purchased a new position in MiniMed Group in the second quarter valued at about $185,000. WINTON GROUP Ltd acquired a new stake in MiniMed Group during the 2nd quarter valued at approximately $273,000. Engineers Gate Manager LP purchased a new stake in MiniMed Group during the 2nd quarter worth approximately $513,000. Finally, Squarepoint Ops LLC purchased a new stake in MiniMed Group during the 2nd quarter worth approximately $403,000.

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.