MiniMed Group (NASDAQ:MMED) Posts Quarterly Earnings Results

MiniMed Group (NASDAQ:MMED) released its earnings results on Wednesday. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.46), Briefing.com reports. The firm’s revenue was up 15.6% compared to the same quarter last year.

MiniMed Group Trading Up 2.5%

MiniMed Group stock opened at $12.30 on Wednesday. The company has a 50 day moving average of $13.10. MiniMed Group has a twelve month low of $10.65 and a twelve month high of $20.48.

Wall Street Analyst Weigh In

Several brokerages recently commented on MMED. Wells Fargo & Company initiated coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They issued an “overweight” rating and a $26.00 price target for the company. William Blair began coverage on shares of MiniMed Group in a research note on Tuesday, March 31st. They set an “outperform” rating on the stock. BTIG Research initiated coverage on MiniMed Group in a research report on Tuesday, March 31st. They issued 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 set an “overweight” rating and a $26.00 price target on the stock. Finally, Weiss Ratings initiated coverage on MiniMed Group in a research note on Wednesday, May 27th. They issued a “sell (d)” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, MiniMed Group presently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

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.