MiniMed Group (NASDAQ:MMED) Trading Up 5.8% – Time to Buy?

MiniMed Group Inc (NASDAQ:MMED) rose 5.8% during trading on Wednesday . The company traded as high as $23.20 and last traded at $23.2930. 1,086,560 shares changed hands during trading, a decline of 8% from the average daily volume of 1,182,658 shares. The stock had previously closed at $22.01.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MMED shares. UBS Group raised 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 Wednesday, September 2nd. Citigroup upped their price target on shares of MiniMed Group from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Morgan Stanley lifted their price target on shares of MiniMed Group from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Weiss Ratings raised shares of MiniMed Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, September 9th. Finally, Mizuho upped their price objective on MiniMed Group from $21.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, September 2nd. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.77.

MiniMed Group Price Performance

The stock has a market capitalization of $6.20 billion and a price-to-earnings ratio of -32.40. The firm’s 50 day moving average price is $19.53.

Institutional Investors Weigh In On MiniMed Group

Several institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust purchased a new position in shares of MiniMed Group in the 2nd quarter valued at $28,000. Legal & General Group Plc purchased a new stake in MiniMed Group during the 2nd quarter worth $91,000. The Manufacturers Life Insurance Company purchased a new stake in MiniMed Group during the 2nd quarter worth $185,000. WINTON GROUP Ltd acquired a new stake in MiniMed Group in the 2nd quarter valued at $273,000. Finally, Punch & Associates Investment Management Inc. purchased a new position in MiniMed Group in the second quarter valued at about $292,000.

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.