MiniMed Group (NASDAQ:MMED – Get Free Report) had its price objective reduced by equities research analysts at Barclays from $22.00 to $20.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 11.54% from the stock’s current price.
Other research analysts also recently issued reports about the company. Truist Financial started coverage on MiniMed Group in a report on Thursday, September 24th. They set a “buy” rating and a $29.00 target price on the stock. Wells Fargo & Company boosted their target price on MiniMed Group from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. BTIG Research upped their target price on shares of MiniMed Group from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. Bank of America upped their target price 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. Finally, Citigroup upped their target price on MiniMed Group from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MiniMed Group presently has an average rating of “Moderate Buy” and an average target price of $24.12.
Read Our Latest Research Report on MMED
MiniMed Group Stock Up 0.3%
Shares of NASDAQ MMED traded up $0.05 during midday trading on Friday, reaching $17.93. 751,872 shares of the company were exchanged, compared to its average volume of 3,570,845. The stock has a market cap of $5.04 billion and a P/E ratio of -26.34. MiniMed Group has a one year low of $10.65 and a one year high of $24.43. The stock’s 50-day moving average price is $19.72 and its 200-day moving average price is $16.72.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust purchased a new position in MiniMed Group in the 2nd quarter valued at approximately $28,000. Legal & General Group Plc purchased a new stake in shares of MiniMed Group during the second quarter worth $91,000. State of Wyoming bought a new position in shares of MiniMed Group in the third quarter worth $167,000. The Manufacturers Life Insurance Company bought a new position in shares of MiniMed Group in the second quarter worth $185,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of MiniMed Group in the third quarter valued at $227,000.
About MiniMed Group
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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