MiniMed Group (NASDAQ:MMED) Stock Rated “Buy” in New Coverage at Rothschild & Co Redburn

Analysts at Rothschild & Co Redburn started coverage on shares of MiniMed Group (NASDAQ:MMED) in a research note issued on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $30.00 price target on the stock. Rothschild & Co Redburn’s target price indicates a potential upside of 59.57% from the company’s previous close.

Other analysts have also recently issued reports about the company. Barclays assumed coverage on MiniMed Group in a research report on Wednesday, October 7th. They set an “equal weight” rating and a $22.00 target price for the company. Wells Fargo & Company boosted their price target on shares of MiniMed Group from $22.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. 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 note on Wednesday, September 2nd. BTIG Research increased their price objective on shares of MiniMed Group from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings raised shares of MiniMed Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.25.

MiniMed Group Trading Down 4.6%

Shares of MiniMed Group stock opened at $18.80 on Tuesday. The stock has a 50 day moving average of $20.63 and a 200 day moving average of $16.44. MiniMed Group has a 12 month low of $10.65 and a 12 month high of $24.43. The firm has a market cap of $5.29 billion and a PE ratio of -27.65.

Hedge Funds Weigh In On MiniMed Group

Several large investors have recently modified their holdings of the stock. State Street Corp purchased a new stake in MiniMed Group during the 2nd quarter valued at $6,029,000. The Manufacturers Life Insurance Company purchased a new position in MiniMed Group during the second quarter worth $185,000. WINTON GROUP Ltd purchased a new position in MiniMed Group during the second quarter worth $273,000. Engineers Gate Manager LP bought a new position in MiniMed Group during the second quarter valued at $513,000. Finally, Squarepoint Ops LLC bought a new position in MiniMed Group during the second quarter valued at $403,000.

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.