MiniMed Group Inc (NASDAQ:MMED) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of MiniMed Group Inc (NASDAQ:MMED) have been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.25.

A number of brokerages have recently commented on MMED. Wells Fargo & Company lifted their price target on MiniMed Group from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Truist Financial started 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. Bank of America raised their price objective on shares of MiniMed Group from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. BTIG Research lifted their target price on shares of MiniMed Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st. Finally, Mizuho boosted their target price on shares of MiniMed Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th.

Hedge Funds Weigh In On MiniMed Group

A number of hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust acquired a new stake in MiniMed Group in the second quarter valued at $28,000. Legal & General Group Plc bought a new position in MiniMed Group during the 2nd quarter worth approximately $91,000. State of Alaska Department of Revenue acquired a new position in shares of MiniMed Group in the 3rd quarter worth approximately $227,000. The Manufacturers Life Insurance Company acquired a new position in shares of MiniMed Group in the 2nd quarter worth approximately $185,000. Finally, WINTON GROUP Ltd bought a new stake in shares of MiniMed Group in the 2nd quarter valued at $273,000.

MiniMed Group Price Performance

MMED stock traded down $0.51 during midday trading on Friday, reaching $17.49. 21,451,440 shares of the stock were exchanged, compared to its average volume of 14,314,342. The stock has a market capitalization of $4.92 billion and a PE ratio of -25.72. MiniMed Group has a 52 week low of $10.65 and a 52 week high of $24.43. The company has a fifty day moving average price of $20.53 and a 200 day moving average price of $16.50.

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.