MiniMed Group (NASDAQ:MMED) Shares Up 8.6% – What’s Next?

MiniMed Group Inc (NASDAQ:MMED)’s stock price shot up 8.6% during mid-day trading on Wednesday . The company traded as high as $14.80 and last traded at $14.9150. 92,007 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 900,319 shares. The stock had previously closed at $13.74.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wall Street Zen raised MiniMed Group to a “hold” rating in a research note on Saturday, March 14th. Bank of America dropped their target price on shares of MiniMed Group from $27.00 to $20.00 and set a “buy” rating for the company in a report on Monday, May 18th. William Blair started coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They issued an “outperform” rating for the company. Benchmark reissued a “buy” rating on shares of MiniMed Group in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group assumed coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $24.00 price target on the stock. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.33.

MiniMed Group Stock Up 5.5%

The business has a 50 day simple moving average of $13.03.

MiniMed Group (NASDAQ:MMED) last issued its earnings results on Wednesday, June 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The business had revenue of $837.00 million during the quarter. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last 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.