MiniMed Group (NASDAQ:MMED) Given New $22.00 Price Target at Wells Fargo & Company

MiniMed Group (NASDAQ:MMED) had its price objective reduced by Wells Fargo & Company from $26.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 54.28% from the company’s previous close.

Several other analysts have also issued reports on MMED. Weiss Ratings began coverage on shares of MiniMed Group in a research report on Wednesday, May 27th. They issued a “sell (d)” rating on the stock. BTIG Research initiated coverage on shares of MiniMed Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $25.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on MiniMed Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $20.00 target price on the stock. Barclays assumed coverage on MiniMed Group in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $26.00 price target for the company. Finally, Zacks Research upgraded MiniMed Group to a “hold” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.33.

MiniMed Group Price Performance

Shares of NASDAQ MMED opened at $14.26 on Thursday. The firm’s fifty day moving average price is $12.96. MiniMed Group has a 1-year low of $10.65 and a 1-year high of $20.48.

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 the consensus estimate of ($0.22) by ($0.46). The firm had revenue of $837.00 million during the quarter. The business’s quarterly revenue was up 15.6% on a year-over-year basis.

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.