MiniMed Group (NASDAQ:MMED) Stock Price Expected to Rise, Mizuho Analyst Says

MiniMed Group (NASDAQ:MMED) had its price target hoisted by research analysts at Mizuho from $26.00 to $28.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target suggests a potential upside of 46.52% from the stock’s previous close.

A number of other brokerages have also recently issued reports on MMED. Bank of America boosted their target price on shares of MiniMed Group from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Truist Financial initiated coverage on MiniMed Group in a research report on Thursday, September 24th. They set a “buy” rating and a $29.00 price target on the stock. Morgan Stanley raised their price target on MiniMed Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. UBS Group upped their price objective on shares of MiniMed Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, Wells Fargo & Company increased their price objective on shares of MiniMed Group from $22.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.00.

MiniMed Group Price Performance

MMED opened at $19.11 on Thursday. The business has a fifty day simple moving average of $20.57 and a 200 day simple moving average of $16.38. MiniMed Group has a 1 year low of $10.65 and a 1 year high of $24.43. The company has a market capitalization of $5.38 billion and a PE ratio of -28.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp acquired a new stake in shares of MiniMed Group in the 2nd quarter valued at approximately $6,029,000. Bank of America Corp DE increased its position in MiniMed Group by 377.0% during the 2nd quarter. Bank of America Corp DE now owns 238,819 shares of the company’s stock worth $3,570,000 after purchasing an additional 188,756 shares in the last quarter. Bank of New York Mellon Corp bought a new position in MiniMed Group in the 2nd quarter valued at approximately $1,058,000. Freestone Grove Partners LP acquired a new stake in MiniMed Group in the second quarter valued at approximately $1,745,000. Finally, J. Goldman & Co LP bought a new stake in shares of MiniMed Group during the second quarter worth $12,412,000.

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.