MiniMed Group Inc (MMED) – What Are Investment Firms Saying About This Stock?

Shares of MiniMed Group Inc (NASDAQ:MMED) have been assigned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $24.25.

Several equities research analysts recently commented on MMED shares. Weiss Ratings upgraded MiniMed Group from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, September 9th. Jefferies Financial Group started coverage on MiniMed Group in a report on Monday, October 12th. They issued a “hold” rating and a $22.00 target price for the company. Mizuho boosted their price target on MiniMed Group from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. 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, September 1st. Finally, Rothschild & Co Redburn began coverage on MiniMed Group in a report on Tuesday. They set a “buy” rating and a $30.00 price target on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in MiniMed Group by 7,527.5% in the second quarter. BlackRock Inc. now owns 1,996,489 shares of the company’s stock worth $29,848,000 after purchasing an additional 1,970,314 shares during the period. J. Goldman & Co LP bought a new stake in MiniMed Group in the second quarter valued at $12,412,000. State Street Corp acquired a new position in shares of MiniMed Group during the second quarter valued at about $6,029,000. Readystate Asset Management LP bought a new position in shares of MiniMed Group during the 2nd quarter worth about $4,400,000. Finally, 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.

MiniMed Group Stock Performance

Shares of MMED stock traded down $0.51 during mid-day trading on Friday, hitting $17.49. The company’s stock had a trading volume of 21,451,440 shares, compared to its average volume of 14,314,342. The company’s fifty day simple moving average is $20.53 and its 200-day simple moving average is $16.50. MiniMed Group has a 52 week low of $10.65 and a 52 week high of $24.43. The company has a market cap of $4.92 billion and a PE ratio of -25.72.

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.