MiniMed Group (NASDAQ:MMED) Announces Quarterly Earnings Results

MiniMed Group (NASDAQ:MMED) released its quarterly earnings results on Wednesday. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46), Briefing.com reports. The firm’s quarterly revenue was up 15.6% on a year-over-year basis.

MiniMed Group Trading Up 2.5%

MiniMed Group stock opened at $12.30 on Wednesday. MiniMed Group has a 1 year low of $10.65 and a 1 year high of $20.48. The business has a 50 day simple moving average of $13.10.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MMED shares. Barclays assumed coverage on shares of MiniMed Group in a research note on Wednesday, April 1st. They set an “overweight” rating and a $26.00 price objective on the stock. Zacks Research raised MiniMed Group to a “hold” rating in a research note on Thursday, April 9th. Mizuho initiated coverage on MiniMed Group in a research note on Tuesday, March 31st. They issued an “outperform” rating and a $21.00 price objective on the stock. The Goldman Sachs Group started coverage on MiniMed Group in a report on Tuesday, March 31st. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Benchmark initiated coverage on MiniMed Group in a report on Tuesday, May 12th. They set a “buy” rating and a $20.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

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.