MiniMed Group (NASDAQ:MMED) Stock Price Target Lowered at Barclays

MiniMed Group (NASDAQ:MMED) had its target price decreased by investment analysts at Barclays from $22.00 to $20.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 11.54% from the stock’s previous close.

MMED has been the subject of several other research reports. Jefferies Financial Group began coverage on shares of MiniMed Group in a report on Monday, October 12th. They issued a “hold” rating and a $22.00 target price for the company. Citigroup lifted their price objective on shares of MiniMed Group from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Wells Fargo & Company lifted their price objective on MiniMed Group from $22.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, September 2nd. Mizuho boosted their target price on MiniMed Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Finally, Bank of America boosted their price objective on shares of MiniMed Group from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Fourteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.12.

MiniMed Group Trading Up 0.3%

Shares of MMED stock traded up $0.05 during trading hours on Friday, reaching $17.93. 751,872 shares of the company’s stock were exchanged, compared to its average volume of 3,570,845. MiniMed Group has a fifty-two week low of $10.65 and a fifty-two week high of $24.43. The company has a market cap of $5.04 billion and a price-to-earnings ratio of -26.34. The stock’s 50 day moving average is $19.72 and its 200-day moving average is $16.72.

Institutional Investors Weigh In On MiniMed Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP grew its position in MiniMed Group by 124.7% during the third quarter. First Trust Advisors LP now owns 822,845 shares of the company’s stock worth $16,021,000 after buying an additional 456,577 shares in the last quarter. State Street Corp grew its holdings in MiniMed Group by 73.0% during the third quarter. State Street Corp now owns 697,580 shares of the company’s stock valued at $13,582,000 after purchasing an additional 294,291 shares during the period. Boston Partners raised its holdings in MiniMed Group by 0.6% during the 3rd quarter. Boston Partners now owns 908,007 shares of the company’s stock worth $17,695,000 after buying an additional 5,648 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in MiniMed Group in the 3rd quarter valued at approximately $1,963,000. Finally, Fifth Third Bancorp raised its holdings in MiniMed Group by 420,970.0% during the third quarter. Fifth Third Bancorp now owns 252,642 shares of the company’s stock worth $4,919,000 after acquiring an additional 252,582 shares in the last quarter.

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.