MiniMed Group (NASDAQ:MMED) Given New $26.00 Price Target at Wells Fargo & Company

MiniMed Group (NASDAQ:MMED) had its price target raised by research analysts at Wells Fargo & Company from $22.00 to $26.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 8.05% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Piper Sandler reissued a “neutral” rating and set a $16.00 target price on shares of MiniMed Group in a research note on Thursday, June 4th. Weiss Ratings raised shares of MiniMed Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. BTIG Research increased their price target on MiniMed Group from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group boosted their price objective on MiniMed Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Bank of America upped their target price on MiniMed Group from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Thirteen 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.38.

MiniMed Group Price Performance

NASDAQ:MMED traded up $1.64 on Wednesday, reaching $24.06. 924,645 shares of the stock traded hands, compared to its average volume of 1,085,106. MiniMed Group has a 1-year low of $10.65 and a 1-year high of $24.43. The firm has a 50 day moving average of $17.65. The stock has a market capitalization of $6.77 billion and a price-to-earnings ratio of -35.51.

MiniMed Group (NASDAQ:MMED) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The firm had revenue of $837.00 million for the quarter. MiniMed Group’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, sell-side analysts predict that MiniMed Group will post 0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MiniMed Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of MiniMed Group by 7,527.5% during the second quarter. BlackRock Inc. now owns 1,996,489 shares of the company’s stock valued at $29,848,000 after purchasing an additional 1,970,314 shares during the period. J. Goldman & Co LP acquired a new stake in shares of MiniMed Group in the 2nd quarter valued at about $12,412,000. Readystate Asset Management LP bought a new stake in MiniMed Group in the 2nd quarter valued at about $4,400,000. Bank of America Corp DE increased its position in MiniMed Group by 377.0% in 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. Finally, Freestone Grove Partners LP acquired a new position in MiniMed Group during the 2nd quarter worth approximately $1,745,000.

MiniMed Group News Summary

Here are the key news stories impacting MiniMed Group this week:

• Positive Sentiment: MiniMed reported fiscal Q1 net sales of $843 million, up 17% year over year, while organic U.S. revenue growth accelerated to 13%. International sales also grew strongly, supporting management’s decision to raise its fiscal 2027 organic revenue-growth guidance. MiniMed Delivers Strong Start to Fiscal Year 2027 with U.S. Growth Acceleration
• Positive Sentiment: Fiscal Q1 earnings per share of approximately $0 exceeded analyst expectations, contributing to the favorable initial market reaction. Earnings Flash: MiniMed Posts Fiscal Q1 EPS
• Positive Sentiment: MiniMed highlighted progress across its product pipeline, including an FDA submission for MiniMed Fit, a CE Mark for MiniMed Flex, completion of enrollment in the Vivera pivotal trial and IDE approval for a next-generation extended-wear sensor. MiniMed Group Q1 2027 Deep Dive
• Positive Sentiment: Analyst sentiment strengthened after the results. Mizuho raised its target from $21 to $26 with an “outperform” rating; Bank of America lifted its target from $24 to $28 with a “buy” rating; and BTIG also raised its target to $28 and maintained a “buy” rating.
• Negative Sentiment: The reported brokerage consensus target of $21.62 remains below the stock’s recent trading level, indicating that not all analysts have fully reflected the latest operating momentum in their estimates. MiniMed Receives Consensus Target Price from Brokerages

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.