MiniMed Group (NASDAQ:MMED) Given New $20.00 Price Target at Barclays

MiniMed Group (NASDAQ:MMED) had its price target reduced by Barclays from $22.00 to $20.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on MMED. Morgan Stanley upped their price objective on shares of MiniMed Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Bank of America raised their target price on shares of MiniMed Group from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Rothschild & Co Redburn assumed coverage on shares of MiniMed Group in a research note on Tuesday, October 13th. They set a “buy” rating and a $30.00 target price on the stock. BTIG Research upped their price target 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. Finally, Weiss Ratings upgraded MiniMed Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.12.

MiniMed Group Price Performance

Shares of MMED stock traded up $0.11 on Friday, hitting $17.99. 5,376,894 shares of the company’s stock were exchanged, compared to its average volume of 8,750,697. MiniMed Group has a 12 month low of $10.65 and a 12 month high of $24.43. The stock has a market cap of $5.06 billion and a P/E ratio of -26.46. The company has a 50 day moving average of $19.61 and a 200 day moving average of $16.73.

Institutional Investors Weigh In On MiniMed Group

Institutional investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of MiniMed Group by 358.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,720,000 shares of the company’s stock worth $33,488,000 after purchasing an additional 1,345,000 shares during the period. BlackRock Inc. increased its holdings in MiniMed Group by 7,527.5% in the second quarter. BlackRock Inc. now owns 1,996,489 shares of the company’s stock valued at $29,848,000 after purchasing an additional 1,970,314 shares during the period. Boston Partners raised its position in MiniMed Group by 0.6% during the 3rd quarter. Boston Partners now owns 908,007 shares of the company’s stock worth $17,695,000 after purchasing an additional 5,648 shares during the last quarter. First Trust Advisors LP raised its position in MiniMed Group by 124.7% during the 3rd quarter. First Trust Advisors LP now owns 822,845 shares of the company’s stock worth $16,021,000 after purchasing an additional 456,577 shares during the last quarter. Finally, State Street Corp lifted its holdings in MiniMed Group by 73.0% during the 3rd quarter. State Street Corp now owns 697,580 shares of the company’s stock worth $13,582,000 after buying an additional 294,291 shares during the period.

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.