MiniMed Group (NASDAQ:MMED) Trading Up 8.7% – Here’s What Happened

Shares of MiniMed Group Inc (NASDAQ:MMED) were up 8.7% during trading on Wednesday . The company traded as high as $13.75 and last traded at $13.37. Approximately 321,725 shares changed hands during trading, a decline of 62% from the average daily volume of 854,492 shares. The stock had previously closed at $12.30.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MMED shares. BTIG Research started coverage on MiniMed Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $25.00 price target on the stock. Weiss Ratings assumed coverage on MiniMed Group in a research note on Wednesday, May 27th. They set a “sell (d)” rating on the stock. Wall Street Zen raised MiniMed Group to a “hold” rating in a research note on Saturday, March 14th. Barclays assumed coverage on MiniMed Group in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $26.00 price objective on the stock. Finally, Evercore assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They issued an “outperform” rating and a $20.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MiniMed Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

MiniMed Group Stock Down 1.4%

The company has a 50 day moving average of $12.91.

MiniMed Group (NASDAQ:MMED) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The company 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.