MiniMed Group (NASDAQ:MMED) Given New $20.00 Price Target at Bank of America

MiniMed Group (NASDAQ:MMED) had its price objective reduced by stock analysts at Bank of America from $27.00 to $20.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 82.07% from the company’s current price.

Several other analysts also recently commented on MMED. Wall Street Zen upgraded shares of MiniMed Group to a “hold” rating in a research report on Saturday, March 14th. Benchmark initiated coverage on MiniMed Group in a research note on Tuesday, May 12th. They issued a “buy” rating and a $20.00 price objective for the company. Mizuho assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They issued an “outperform” rating and a $21.00 price objective for the company. Evercore assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They set an “outperform” rating and a $20.00 target price on the stock. Finally, Citigroup assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $23.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

MiniMed Group Stock Up 1.7%

MiniMed Group stock traded up $0.19 during midday trading on Monday, reaching $10.99. 357,040 shares of the company traded hands, compared to its average volume of 889,689. The company’s 50 day simple moving average is $14.21. MiniMed Group has a 12 month low of $10.65 and a 12 month high of $20.48.

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.