MiniMed Group Inc (NASDAQ:MMED) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of MiniMed Group Inc (NASDAQ:MMED) have received a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $21.3333.

A number of analysts have recently issued reports on the company. Citigroup assumed coverage on MiniMed Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $23.00 target price on the stock. Wells Fargo & Company lowered their price objective on MiniMed Group from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Bank of America cut their target price on MiniMed Group from $27.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Morgan Stanley began coverage on MiniMed Group in a research note on Tuesday, March 31st. They set an “overweight” rating and a $19.00 target price for the company. Finally, William Blair began coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They set an “outperform” rating for the company.

MiniMed Group Stock Up 2.5%

Shares of MMED stock opened at $15.42 on Thursday. The company has a fifty day moving average price of $13.57. The stock has a market capitalization of $4.33 billion and a P/E ratio of -22.68. MiniMed Group has a twelve month low of $10.65 and a twelve month high of $20.48.

MiniMed Group (NASDAQ:MMED) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The business had revenue of $837.00 million for the quarter. MiniMed Group’s revenue for the quarter was up 15.6% on a year-over-year basis.

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.