MiniMed Group (NASDAQ:MMED) Price Target Raised to $21.00

MiniMed Group (NASDAQ:MMED) had its target price boosted by Morgan Stanley from $19.00 to $21.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

MMED has been the subject of several other research reports. Wells Fargo & Company boosted their price objective on MiniMed Group from $22.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America lifted their target price on shares of MiniMed Group from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group increased their price target on shares of MiniMed Group from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings raised shares of MiniMed Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 20th. Finally, Citigroup upped their target price on shares of MiniMed Group from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MiniMed Group has a consensus rating of “Moderate Buy” and a consensus target price of $23.77.

MiniMed Group Stock Down 2.3%

Shares of MMED stock opened at $23.28 on Thursday. The stock has a market capitalization of $6.55 billion and a P/E ratio of -34.24. MiniMed Group has a 52-week low of $10.65 and a 52-week high of $24.43. The stock has a fifty day simple moving average of $18.21.

MiniMed Group (NASDAQ:MMED) last announced its earnings results on Wednesday, June 3rd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The business had revenue of $837.00 million during the quarter. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. Sell-side analysts predict that MiniMed Group will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MiniMed Group

A number of large investors have recently added to or reduced their stakes in MMED. BlackRock Inc. boosted its position in 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 buying an additional 1,970,314 shares during the period. J. Goldman & Co LP purchased a new stake in MiniMed Group during the 2nd quarter valued at about $12,412,000. Readystate Asset Management LP bought a new position in MiniMed Group during the 2nd quarter worth approximately $4,400,000. Bank of America Corp DE increased its stake 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 worth $3,570,000 after purchasing an additional 188,756 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in MiniMed Group in the 2nd quarter worth approximately $1,745,000.

More MiniMed Group News

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

• Positive Sentiment: Analysts see further upside: Citigroup and Wells Fargo issued forecasts calling for strong price appreciation, while analysts at Mizuho, UBS Group, Bank of America and BTIG Research also said MiniMed’s share price is expected to rise. The cluster of bullish views may support investor confidence and buying interest. Citigroup forecast Wells Fargo forecast Mizuho analyst view UBS analyst view Bank of America analyst view BTIG analyst view
• Positive Sentiment: New products are driving optimism: A recent product introduction helped lift MiniMed’s top line, with further launches scheduled over the coming months. Investors appear to be viewing the product pipeline as a potential source of sustained growth. Why MiniMed stock was soaring
• Positive Sentiment: Operational momentum is improving: Coverage highlights recurring revenue streams, regulatory progress and a strong beginning to fiscal 2027, reinforcing the case for more predictable growth. Recurring revenues and product cycle Fiscal 2027 progress
• Neutral Sentiment: Morgan Stanley raised its target: The firm increased its target from $19 to $21 and maintained an “overweight” rating. However, the new target remains below the referenced recent trading level, suggesting that some expected gains may already be reflected in the valuation.

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.