MiniMed Group (NASDAQ:MMED) Now Covered by Barclays

Research analysts at Barclays initiated coverage on shares of MiniMed Group (NASDAQ:MMED) in a report issued on Wednesday, Briefing.com reports. The firm set an “equal weight” rating and a $22.00 price target on the stock. Barclays‘s price target indicates a potential upside of 12.02% from the stock’s current price.

A number of other analysts have also recently commented on the stock. BTIG Research upped 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. UBS Group boosted their target price on shares of MiniMed Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Truist Financial started coverage on MiniMed Group in a report on Thursday, September 24th. They issued a “buy” rating and a $29.00 target price on the stock. Morgan Stanley upped their price target on MiniMed Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Finally, Weiss Ratings raised MiniMed Group from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, September 9th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MiniMed Group presently has an average rating of “Moderate Buy” and a consensus target price of $23.86.

MiniMed Group Price Performance

MMED opened at $19.64 on Wednesday. The company’s 50 day moving average price is $20.55 and its two-hundred day moving average price is $16.36. The firm has a market capitalization of $5.53 billion and a price-to-earnings ratio of -28.88. MiniMed Group has a fifty-two week low of $10.65 and a fifty-two week high of $24.43.

Institutional Investors Weigh In On MiniMed Group

Several hedge funds and other institutional investors have recently modified their holdings of MMED. BlackRock Inc. lifted its stake in MiniMed Group by 7,527.5% in the 2nd quarter. BlackRock Inc. now owns 1,996,489 shares of the company’s stock worth $29,848,000 after purchasing an additional 1,970,314 shares in the last quarter. J. Goldman & Co LP purchased a new position in shares of MiniMed Group during the 2nd quarter valued at $12,412,000. State Street Corp bought a new position in shares of MiniMed Group in the second quarter worth $6,029,000. Readystate Asset Management LP purchased a new stake in shares of MiniMed Group in the second quarter worth $4,400,000. Finally, Bank of America Corp DE boosted its stake in MiniMed Group by 377.0% during the second quarter. Bank of America Corp DE now owns 238,819 shares of the company’s stock valued at $3,570,000 after buying an additional 188,756 shares during the period.

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.