MiniMed Group (NASDAQ:MMED) Trading 6.7% Higher – Still a Buy?

MiniMed Group Inc (NASDAQ:MMED)’s share price rose 6.7% during mid-day trading on Friday . The stock traded as high as $16.88 and last traded at $16.94. 1,230,110 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 973,886 shares. The stock had previously closed at $15.88.

Wall Street Analyst Weigh In

Several research analysts have commented on MMED shares. William Blair initiated coverage on MiniMed Group in a report on Tuesday, March 31st. They set an “outperform” rating on the stock. The Goldman Sachs Group began coverage on MiniMed Group in a report on Tuesday, March 31st. They set a “buy” rating and a $24.00 target price for the company. Morgan Stanley assumed coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They set an “overweight” rating and a $19.00 price target on the stock. BTIG Research began coverage on MiniMed Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $25.00 target price on the stock. Finally, Evercore assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They set an “outperform” rating and a $20.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

MiniMed Group Trading Up 4.5%

The stock has a market cap of $4.66 billion and a PE ratio of -24.47. The firm has a 50 day simple moving average of $13.66.

MiniMed Group (NASDAQ:MMED) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.46). The company had revenue of $837.00 million during the quarter. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year.

MiniMed Group Company Profile

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.