J. Goldman & Co LP Invests $12.41 Million in MiniMed Group Inc $MMED

J. Goldman & Co LP acquired a new stake in shares of MiniMed Group Inc (NASDAQ:MMED) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 830,218 shares of the company’s stock, valued at approximately $12,412,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in MiniMed Group in the 2nd quarter worth approximately $91,000. The Manufacturers Life Insurance Company bought a new position in shares of MiniMed Group during the 2nd quarter valued at $185,000. Deutsche Bank AG purchased a new position in shares of MiniMed Group in the 2nd quarter worth $420,000. Bank of New York Mellon Corp purchased a new position in shares of MiniMed Group in the 2nd quarter worth $1,058,000. Finally, BlackRock Inc. grew its holdings in shares of 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 acquiring an additional 1,970,314 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MMED. Benchmark reissued a “buy” rating on shares of MiniMed Group in a report on Thursday, June 4th. UBS Group initiated coverage on shares of MiniMed Group in a research report on Tuesday, July 28th. They set a “buy” rating and a $25.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of MiniMed Group from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Bank of America cut their target price on shares of MiniMed Group from $27.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $16.00 price target on shares of MiniMed Group in a research report on Thursday, June 4th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.62.

MiniMed Group Trading Down 5.1%

Shares of NASDAQ:MMED opened at $18.92 on Wednesday. The company’s 50 day moving average is $17.05. The company has a market cap of $5.32 billion and a P/E ratio of -27.82. MiniMed Group Inc has a 12-month low of $10.65 and a 12-month high of $20.88.

MiniMed Group (NASDAQ:MMED) last released its earnings results on Wednesday, June 3rd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The business had revenue of $837.00 million for the quarter. The company’s quarterly revenue was up 15.6% on a year-over-year basis. On average, research analysts predict that MiniMed Group Inc will post 0.66 EPS for the current year.

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.