Freestone Grove Partners LP purchased a new stake in MiniMed Group Inc (NASDAQ:MMED – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 116,694 shares of the company’s stock, valued at approximately $1,745,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of MiniMed Group during the second quarter worth about $91,000. The Manufacturers Life Insurance Company acquired a new stake in MiniMed Group in the 2nd quarter valued at approximately $185,000. Deutsche Bank AG bought a new stake in MiniMed Group in the 2nd quarter valued at approximately $420,000. Bank of New York Mellon Corp acquired a new position in MiniMed Group during the 2nd quarter worth approximately $1,058,000. Finally, J. Goldman & Co LP acquired a new position in MiniMed Group during the 2nd quarter worth approximately $12,412,000.
Analyst Ratings Changes
MMED has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating on shares of MiniMed Group in a report on Thursday, June 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $16.00 target price on shares of MiniMed Group in a research report on Thursday, June 4th. Wells Fargo & Company reduced their price target on MiniMed Group from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. UBS Group assumed coverage on MiniMed Group in a research report on Tuesday, July 28th. They set a “buy” rating and a $25.00 price target on the stock. Finally, Weiss Ratings upgraded MiniMed Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.62.
MiniMed Group Trading Up 3.0%
Shares of MMED stock opened at $20.10 on Friday. The company has a fifty day moving average price of $17.35. MiniMed Group Inc has a one year low of $10.65 and a one year high of $20.88. The firm has a market capitalization of $5.66 billion and a PE ratio of -29.56.
MiniMed Group (NASDAQ:MMED – Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.46). The firm had revenue of $837.00 million for the quarter. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, research analysts expect that MiniMed Group Inc will post 0.66 EPS for the current fiscal year.
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.
Read More
- Five stocks we like better than MiniMed Group
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
Want to see what other hedge funds are holding MMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MiniMed Group Inc (NASDAQ:MMED – Free Report).
Receive News & Ratings for MiniMed Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiniMed Group and related companies with MarketBeat.com's FREE daily email newsletter.
