MiniMed Group (NASDAQ:MMED) Shares Down 5.6% – Time to Sell?

MiniMed Group Inc (NASDAQ:MMED) shares fell 5.6% during mid-day trading on Tuesday . The company traded as low as $15.31 and last traded at $15.2060. 67,344 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 959,218 shares. The stock had previously closed at $16.10.

Wall Street Analyst Weigh In

MMED has been the topic of a number of recent research reports. Morgan Stanley assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They set an “overweight” rating and a $19.00 price target on the stock. Mizuho initiated coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They issued an “outperform” rating and a $21.00 price objective for the company. Evercore began coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They set an “outperform” rating and a $20.00 target price on the stock. Benchmark reaffirmed a “buy” rating on shares of MiniMed Group in a research note on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of MiniMed Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $20.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.33.

MiniMed Group Trading Up 2.5%

The firm has a 50-day moving average of $13.57. The company has a market capitalization of $4.33 billion and a P/E ratio of -22.68.

MiniMed Group (NASDAQ:MMED) last issued its earnings results 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 company had revenue of $837.00 million for the quarter. The business’s quarterly revenue was up 15.6% compared to the same quarter last 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.