MiniMed Group (NASDAQ:MMED) Price Target Raised to $28.00

MiniMed Group (NASDAQ:MMED) had its price objective upped by Bank of America from $24.00 to $28.00 in a research note released on Wednesday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also commented on MMED. Piper Sandler restated a “neutral” rating and set a $16.00 price target on shares of MiniMed Group in a research note on Thursday, June 4th. Wells Fargo & Company reduced their price objective on shares of MiniMed Group from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. BTIG Research increased 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 Tuesday. Benchmark restated a “buy” rating on shares of MiniMed Group in a report on Thursday, June 4th. Finally, Weiss Ratings raised MiniMed Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.77.

MiniMed Group Stock Down 2.3%

Shares of NASDAQ MMED opened at $23.28 on Wednesday. The company has a 50-day moving average price of $18.21. MiniMed Group has a one year low of $10.65 and a one year high of $24.43. The stock has a market capitalization of $6.55 billion and a P/E ratio of -34.24.

MiniMed Group (NASDAQ:MMED) last posted its quarterly 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 firm had revenue of $837.00 million during the quarter. The business’s revenue was up 15.6% compared to the same quarter last year. On average, equities research analysts forecast that MiniMed Group will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On MiniMed Group

Several large investors have recently made changes to their positions in MMED. Parkside Financial Bank & Trust acquired a new position in shares of MiniMed Group during the second quarter valued at about $28,000. California State Teachers Retirement System acquired a new stake in MiniMed Group during the second quarter worth about $89,000. Legal & General Group Plc bought a new position in MiniMed Group during the second quarter valued at about $91,000. The Manufacturers Life Insurance Company acquired a new position in MiniMed Group in the 2nd quarter valued at approximately $185,000. Finally, Punch & Associates Investment Management Inc. acquired a new position in MiniMed Group in the 2nd quarter valued at approximately $292,000.

Key Headlines Impacting MiniMed Group

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.

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.