MiniMed Group Inc (NASDAQ:MMED) Given Average Rating of “Moderate Buy” by Analysts

MiniMed Group Inc (NASDAQ:MMED) has received an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $21.6154.

MMED has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of MiniMed Group from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Weiss Ratings upgraded shares of MiniMed Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. Benchmark restated a “buy” rating on shares of MiniMed Group in a research report on Thursday, June 4th. Zacks Research upgraded MiniMed Group to a “hold” rating in a research report on Thursday, April 9th. Finally, Piper Sandler restated a “neutral” rating and issued a $16.00 price objective on shares of MiniMed Group in a research report on Thursday, June 4th.

MiniMed Group Stock Performance

Shares of MMED stock opened at $18.05 on Monday. The firm has a market cap of $5.07 billion and a PE ratio of -26.54. MiniMed Group has a 52-week low of $10.65 and a 52-week high of $20.48. The company has a 50-day moving average of $14.96.

MiniMed Group (NASDAQ:MMED) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.46). The company had revenue of $837.00 million during the quarter. The company’s revenue was up 15.6% on a year-over-year basis.

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.