Verdence Capital Advisors LLC Makes New Investment in MiniMed Group Inc $MMED

Verdence Capital Advisors LLC acquired a new stake in shares of MiniMed Group Inc (NASDAQ:MMED) during the 3rd quarter, Holdings Channel reports. The fund acquired 44,220 shares of the company’s stock, valued at approximately $861,000.

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

Wall Street Analyst Weigh In

MMED has been the subject of a number of research reports. Jefferies Financial Group started coverage on MiniMed Group in a research report on Monday, October 12th. They set a “hold” rating and a $22.00 target price for the company. Rothschild & Co Redburn began coverage on shares of MiniMed Group in a report on Tuesday, October 13th. They issued a “buy” rating and a $30.00 price target for the company. Bank of America boosted their price objective on MiniMed Group from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Truist Financial began coverage on MiniMed Group in a research note on Thursday, September 24th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Citigroup lifted their target price on MiniMed Group from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Fourteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MiniMed Group has an average rating of “Moderate Buy” and a consensus price target of $24.25.

MiniMed Group Stock Performance

MiniMed Group stock opened at $19.25 on Friday. The firm has a 50-day moving average price of $20.19 and a 200-day moving average price of $16.63. MiniMed Group Inc has a 12-month low of $10.65 and a 12-month high of $24.43.

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.