MiniMed Group Sees Unusually Large Options Volume (NASDAQ:MMED)

MiniMed Group Inc (NASDAQ:MMED – Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 10,919 call options on the company. This represents an increase of approximately 75% compared to the typical volume of 6,240 call options.

MiniMed Group Trading Up 5.9%

Shares of MMED stock traded up $1.02 during trading hours on Wednesday, reaching $18.38. The stock had a trading volume of 2,367,381 shares, compared to its average volume of 3,571,900. The stock’s fifty day simple moving average is $19.92 and its 200 day simple moving average is $16.71. The firm has a market capitalization of $5.17 billion and a PE ratio of -26.99. MiniMed Group has a 12 month low of $10.65 and a 12 month high of $24.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MMED shares. BTIG Research boosted their price target on shares of MiniMed Group from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Bank of America raised their price objective on shares of MiniMed Group from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Weiss Ratings raised shares of MiniMed Group from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, September 9th. Truist Financial assumed coverage on shares of MiniMed Group in a research note on Thursday, September 24th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Mizuho boosted their target price on shares of MiniMed Group from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. Fourteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.25.

Check Out Our Latest Analysis on MMED

Institutional Trading of MiniMed Group

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp bought a new position in MiniMed Group in the 2nd quarter valued at $6,029,000. Bank of America Corp DE grew its position in shares of MiniMed Group by 377.0% during the 2nd quarter. Bank of America Corp DE now owns 238,819 shares of the company’s stock valued at $3,570,000 after purchasing an additional 188,756 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of MiniMed Group in the second quarter worth $1,058,000. Freestone Grove Partners LP bought a new position in shares of MiniMed Group in the second quarter worth $1,745,000. Finally, J. Goldman & Co LP purchased a new stake in shares of MiniMed Group in the second quarter worth $12,412,000.

About MiniMed Group

(Get Free Report)

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.

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