Lisanti Capital Growth LLC Makes New $3.10 Million Investment in MiniMed Group Inc $MMED

Lisanti Capital Growth LLC acquired a new position in shares of MiniMed Group Inc (NASDAQ:MMED) during the 3rd quarter, Holdings Channel reports. The fund acquired 159,350 shares of the company’s stock, valued at approximately $3,103,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new position in MiniMed Group in the second quarter valued at $28,000. Legal & General Group Plc purchased a new position in MiniMed Group during the second quarter worth about $91,000. State of Wyoming acquired a new stake in MiniMed Group in the 3rd quarter worth about $167,000. State of Alaska Department of Revenue acquired a new stake in MiniMed Group in the 3rd quarter worth about $227,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in MiniMed Group in the 2nd quarter valued at about $185,000.

Analyst Ratings Changes

Several research analysts have recently weighed in on MMED shares. Barclays began coverage on shares of MiniMed Group in a report on Wednesday, October 7th. They set an “equal weight” rating and a $22.00 price objective on the stock. Bank of America boosted their target price on shares of MiniMed Group from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Morgan Stanley upped their price target on shares of MiniMed Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Citigroup lifted 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. Finally, Jefferies Financial Group assumed coverage on MiniMed Group in a report on Monday, October 12th. They set a “hold” rating and a $22.00 price objective for the company. Fourteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MiniMed Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.25.

MiniMed Group Stock Performance

MMED opened at $18.25 on Thursday. The firm has a 50 day moving average price of $19.84 and a 200 day moving average price of $16.71. The company has a market cap of $5.13 billion and a PE ratio of -26.84. MiniMed Group Inc has a 1 year low of $10.65 and a 1 year high of $24.43.

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.