MiniMed Group (NASDAQ:MMED) Earns Buy Rating from Analysts at Truist Financial

by · The Cerbat Gem

Analysts at Truist Financial initiated coverage on shares of MiniMed Group (NASDAQ:MMED – Get Free Report) in a research note issued on Thursday, Briefing.com reports. The firm set a “buy” rating and a $29.00 price target on the stock. Truist Financial’s target price would indicate a potential upside of 41.19% from the stock’s previous close.

Several other analysts have also weighed in on MMED. Weiss Ratings upgraded shares of MiniMed Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, September 9th. Mizuho increased their price objective on MiniMed Group from $21.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, September 2nd. BTIG Research increased their price target on shares of MiniMed Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. Citigroup upped their price objective on MiniMed Group from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Finally, Morgan Stanley upped their target price on shares of MiniMed Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, MiniMed Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.14.

View Our Latest Analysis on MiniMed Group

MiniMed Group Price Performance

MiniMed Group stock opened at $20.54 on Thursday. MiniMed Group has a 12 month low of $10.65 and a 12 month high of $24.43. The stock’s 50-day moving average is $19.99 and its 200-day moving average is $16.17. The company has a market cap of $5.78 billion and a price-to-earnings ratio of -30.21.

Hedge Funds Weigh In On MiniMed Group

A number of institutional investors and hedge funds have recently bought and sold shares of MMED. State Street Corp bought a new position in shares of MiniMed Group in the 2nd quarter worth about $6,029,000. The Manufacturers Life Insurance Company bought a new stake in shares of MiniMed Group in the 2nd quarter worth approximately $185,000. WINTON GROUP Ltd bought a new position in MiniMed Group in the 2nd quarter worth approximately $273,000. Engineers Gate Manager LP bought a new stake in MiniMed Group during the 2nd quarter worth approximately $513,000. Finally, Squarepoint Ops LLC bought a new position in MiniMed Group in the 2nd quarter worth about $403,000.

About MiniMed Group

(Get Free Report)

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.

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