MiniMed Group Inc (NASDAQ:MMED) Stock Has Consensus Price Target of $24.25 According to Analysts

Shares of MiniMed Group Inc (NASDAQ:MMED) have received an average recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $24.25.

A number of brokerages have recently issued reports on MMED. Morgan Stanley upped their target price 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. Rothschild & Co Redburn assumed coverage on MiniMed Group in a report on Tuesday, October 13th. They set a “buy” rating and a $30.00 price target for the company. Bank of America lifted their price target on MiniMed Group from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Jefferies Financial Group started coverage on MiniMed Group in a research report on Monday, October 12th. They set a “hold” rating and a $22.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on MiniMed Group from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd.

Institutional Trading of MiniMed Group

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of MiniMed Group by 7,527.5% during the 2nd quarter. BlackRock Inc. now owns 1,996,489 shares of the company’s stock worth $29,848,000 after buying an additional 1,970,314 shares during the period. J. Goldman & Co LP acquired a new position in MiniMed Group in the 2nd quarter valued at about $12,412,000. State Street Corp bought a new position in MiniMed Group in the 2nd quarter valued at about $6,029,000. Readystate Asset Management LP bought a new position in MiniMed Group in the 2nd quarter valued at about $4,400,000. Finally, Fifth Third Bancorp raised its holdings in MiniMed Group by 420,970.0% in the 3rd quarter. Fifth Third Bancorp now owns 252,642 shares of the company’s stock valued at $4,919,000 after acquiring an additional 252,582 shares during the period.

MiniMed Group Price Performance

Shares of MMED opened at $17.36 on Wednesday. The firm has a 50-day moving average of $19.92 and a 200-day moving average of $16.71. MiniMed Group has a one year low of $10.65 and a one year high of $24.43. The company has a market cap of $4.88 billion and a PE ratio of -25.53.

MiniMed Group Company Profile

MiniMed Group focuses on diabetes technology, developing products and services to help people manage insulin-dependent diabetes. Its offerings include insulin pumps, continuous glucose monitoring systems, infusion sets and software for tracking glucose and coordinating insulin delivery. The business is known for automated insulin-delivery systems that use glucose readings to help adjust insulin delivery, including products in the MiniMed 780G system line. Its technologies are intended for use by people with diabetes and the clinicians who support their care.