Rothschild & Co Redburn began coverage on shares of MiniMed Group (NASDAQ:MMED – Free Report) in a research report report published on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $30.00 price target on the stock.
A number of other analysts have also weighed in on the company. BTIG Research increased their price objective on MiniMed Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, September 1st. Bank of America raised their target price on shares of MiniMed Group from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Morgan Stanley lifted their target price on shares of MiniMed Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Truist Financial assumed coverage on shares of MiniMed Group in a research note on Thursday, September 24th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, Citigroup upped their price target on shares of MiniMed Group from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Fourteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MiniMed Group currently has an average rating of “Moderate Buy” and a consensus target price of $24.25.
Check Out Our Latest Research Report on MMED
MiniMed Group Price Performance
MMED opened at $18.00 on Tuesday. The stock’s 50 day simple moving average is $20.57 and its 200 day simple moving average is $16.49. The firm has a market cap of $5.06 billion and a price-to-earnings ratio of -26.47. MiniMed Group has a 1 year low of $10.65 and a 1 year high of $24.43.
Institutional Trading of MiniMed Group
Large investors have recently modified their holdings of the business. BlackRock Inc. increased its holdings in MiniMed Group by 7,527.5% during the 2nd quarter. BlackRock Inc. now owns 1,996,489 shares of the company’s stock valued at $29,848,000 after purchasing an additional 1,970,314 shares during the period. J. Goldman & Co LP bought a new position in MiniMed Group during the 2nd quarter valued at approximately $12,412,000. State Street Corp purchased a new stake in MiniMed Group in the 2nd quarter worth approximately $6,029,000. Readystate Asset Management LP purchased a new stake in MiniMed Group in the 2nd quarter worth approximately $4,400,000. Finally, Bank of America Corp DE grew its position in shares of MiniMed Group by 377.0% in the 2nd quarter. Bank of America Corp DE now owns 238,819 shares of the company’s stock worth $3,570,000 after buying an additional 188,756 shares during the last quarter.
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.
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