Citigroup Increases MiniMed Group (NASDAQ:MMED) Price Target to $26.00

MiniMed Group (NASDAQ:MMED) had its target price increased by analysts at Citigroup from $23.00 to $26.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 9.10% from the company’s current price.

MMED has been the topic of several other reports. Wells Fargo & Company increased their price objective on MiniMed Group from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday. Mizuho upped their target price on MiniMed Group from $21.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday. UBS Group upped their price objective on shares of MiniMed Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler reiterated a “neutral” rating and issued a $16.00 target price on shares of MiniMed Group in a research report on Thursday, June 4th. Finally, Bank of America upped their price target on shares of MiniMed Group from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MiniMed Group presently has a consensus rating of “Moderate Buy” and an average price target of $23.62.

MiniMed Group Stock Up 6.3%

Shares of MMED stock traded up $1.41 during trading on Wednesday, hitting $23.83. The company had a trading volume of 2,923,882 shares, compared to its average volume of 1,102,700. The business’s 50-day simple moving average is $17.65. The firm has a market cap of $6.70 billion and a PE ratio of -35.18. MiniMed Group has a 52 week low of $10.65 and a 52 week high of $24.43.

MiniMed Group (NASDAQ:MMED) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.46). The firm had revenue of $837.00 million for the quarter. The company’s revenue was up 15.6% on a year-over-year basis. On average, research analysts anticipate that MiniMed Group will post 0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MMED. Bank of New York Mellon Corp purchased a new stake in shares of MiniMed Group in the 2nd quarter worth approximately $1,058,000. Deutsche Bank AG purchased a new position in MiniMed Group in the second quarter worth about $420,000. BlackRock Inc. lifted its stake in shares of MiniMed Group by 7,527.5% in the second quarter. BlackRock Inc. now owns 1,996,489 shares of the company’s stock worth $29,848,000 after buying an additional 1,970,314 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of MiniMed Group in the second quarter worth approximately $185,000. Finally, Legal & General Group Plc purchased a new stake in shares of MiniMed Group during the second quarter valued at approximately $91,000.

Key Headlines Impacting MiniMed Group

Here are the key news stories impacting MiniMed Group this week:

• Positive Sentiment: MiniMed reported fiscal Q1 revenue of approximately $843 million, up 17% year over year, with organic U.S. sales growth accelerating to 13% and international sales increasing 17% organically. The company also reported adjusted EPS of about $0, which exceeded analyst expectations. MiniMed Delivers Strong Start to Fiscal Year 2027 with U.S. Growth Acceleration
• Positive Sentiment: The company raised its fiscal 2027 organic revenue-growth guidance, adding support to the bullish outlook. Its product pipeline is also progressing, including FDA submission for MiniMed Fit™, CE Mark progress for MiniMed Flex™, completion of enrollment in the Vivera™ FCL pivotal U.S. trial, and IDE approval for a next-generation extended-wear sensor. MiniMed Group Q1 2027 Deep Dive
• Positive Sentiment: Several analysts raised their price targets after the results. Wells Fargo lifted its target to $26 and initiated an “overweight” rating; UBS raised its target to $28 with a “buy” rating; Mizuho increased its target to $26 with an “outperform” rating; and Bank of America raised its target to $28 with a “buy” rating. BTIG previously raised its target to $28 and also maintained a “buy” rating. Analysts Boost Forecasts Following Q1 Sales Results
• Neutral Sentiment: Despite the upgrades, the reported brokerage consensus target of $21.62 remains below the recent share price, suggesting some analysts may view the stock as fully valued after its sharp advance. MiniMed Receives Consensus Target Price

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.