MiniMed Group Inc (NASDAQ:MMED) Stock Has Average Target Price of $23.77

Shares of MiniMed Group Inc (NASDAQ:MMED) have received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $24.14.

A number of research firms have issued reports on MMED. Citigroup boosted their price target on MiniMed Group from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Piper Sandler reissued a “neutral” rating and issued a $16.00 price objective on shares of MiniMed Group in a report on Thursday, June 4th. Weiss Ratings upgraded shares of MiniMed Group from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, September 9th. Truist Financial assumed coverage on shares of MiniMed Group in a research report on Thursday. They issued a “buy” rating and a $29.00 price target on the stock. Finally, Bank of America lifted their price target on shares of MiniMed Group from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MMED. BlackRock Inc. grew its stake in MiniMed Group by 7,527.5% during the second quarter. BlackRock Inc. now owns 1,996,489 shares of the company’s stock valued at $29,848,000 after acquiring an additional 1,970,314 shares in the last quarter. J. Goldman & Co LP purchased a new stake in MiniMed Group in the 2nd quarter worth $12,412,000. State Street Corp bought a new position in shares of MiniMed Group during the 2nd quarter valued at about $6,029,000. Readystate Asset Management LP purchased a new position in shares of MiniMed Group during the second quarter valued at about $4,400,000. Finally, Bank of America Corp DE increased its holdings in shares of MiniMed Group by 377.0% in the second quarter. Bank of America Corp DE now owns 238,819 shares of the company’s stock worth $3,570,000 after purchasing an additional 188,756 shares during the last quarter.

MiniMed Group Stock Down 0.5%

NASDAQ:MMED opened at $20.44 on Tuesday. The stock has a market cap of $5.75 billion and a price-to-earnings ratio of -30.06. The company’s 50 day moving average price is $20.08 and its 200-day moving average price is $16.20. MiniMed Group has a 52 week low of $10.65 and a 52 week high of $24.43.

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.