MiniMed Group (NASDAQ:MMED) Trading 8.7% Higher – Time to Buy?

Shares of MiniMed Group Inc (NASDAQ:MMED) traded up 8.7% during trading on Wednesday . The stock traded as high as $13.75 and last traded at $13.37. 321,725 shares traded hands during trading, a decline of 62% from the average session volume of 854,492 shares. The stock had previously closed at $12.30.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MMED shares. Benchmark assumed coverage on MiniMed Group in a report on Tuesday, May 12th. They issued a “buy” rating and a $20.00 price target for the company. Wells Fargo & Company started coverage on shares of MiniMed Group in a research note on Tuesday, March 31st. They issued an “overweight” rating and a $26.00 target price for the company. Zacks Research upgraded shares of MiniMed Group to a “hold” rating in a research report on Thursday, April 9th. Citigroup assumed coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Weiss Ratings began coverage on MiniMed Group in a report on Wednesday, May 27th. They set a “sell (d)” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued 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 has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

MiniMed Group Stock Up 13.1%

The business’s fifty day moving average price is $13.10.

MiniMed Group (NASDAQ:MMED) last issued its 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 business had revenue of $837.00 million during the quarter. The company’s quarterly revenue was up 15.6% on a year-over-year basis.

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.