MiniMed Group (NASDAQ:MMED) Trading Up 6.7% – What’s Next?

MiniMed Group Inc (NASDAQ:MMED)’s share price rose 6.7% on Friday . The stock traded as high as $16.88 and last traded at $16.94. 1,230,110 shares were traded during trading, an increase of 26% from the average session volume of 973,886 shares. The stock had previously closed at $15.88.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. William Blair started coverage on MiniMed Group in a research note on Tuesday, March 31st. They issued an “outperform” rating on the stock. BTIG Research initiated coverage on MiniMed Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $25.00 target price for the company. Barclays initiated coverage on MiniMed Group in a report on Wednesday, April 1st. They issued an “overweight” rating and a $26.00 target price for the company. Weiss Ratings lowered MiniMed Group from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Finally, Wells Fargo & Company decreased their price objective on MiniMed Group from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, MiniMed Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.33.

MiniMed Group Stock Up 6.6%

The firm’s 50 day moving average is $13.76. The firm has a market cap of $4.75 billion and a PE ratio of -24.90.

MiniMed Group (NASDAQ:MMED) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The company had revenue of $837.00 million for the quarter. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year.

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.