Investors Purchase Large Volume of MiniMed Group Call Options (NASDAQ:MMED)

MiniMed Group Inc (NASDAQ:MMED) saw unusually large options trading activity on Wednesday. Stock investors bought 10,919 call options on the stock. This is an increase of approximately 75% compared to the average daily volume of 6,240 call options.

MiniMed Group Stock Up 5.1%

MMED stock opened at $18.25 on Thursday. MiniMed Group has a 52-week low of $10.65 and a 52-week high of $24.43. The stock has a market cap of $5.13 billion and a price-to-earnings ratio of -26.84. The business has a fifty day moving average of $19.84 and a two-hundred day moving average of $16.71.

Institutional Trading of MiniMed Group

Several institutional investors and hedge funds have recently bought and sold shares of MMED. Boston Partners boosted its stake in MiniMed Group by 0.6% during the third quarter. Boston Partners now owns 908,007 shares of the company’s stock worth $17,695,000 after buying an additional 5,648 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of MiniMed Group in the 3rd quarter valued at approximately $1,963,000. Fifth Third Bancorp raised its stake in shares of MiniMed Group by 420,970.0% in the 3rd quarter. Fifth Third Bancorp now owns 252,642 shares of the company’s stock valued at $4,919,000 after acquiring an additional 252,582 shares during the period. Lisanti Capital Growth LLC acquired a new position in shares of MiniMed Group in the 3rd quarter worth approximately $3,103,000. Finally, Ballast Asset Management LP acquired a new position in shares of MiniMed Group in the 3rd quarter worth approximately $4,675,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup raised their target price on shares of MiniMed Group from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Mizuho increased their price target on MiniMed Group from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. Barclays assumed coverage on MiniMed Group in a research note on Wednesday, October 7th. They set an “equal weight” rating and a $22.00 price objective on the stock. Truist Financial initiated coverage on MiniMed Group in a report on Thursday, September 24th. They issued a “buy” rating and a $29.00 target price for the company. Finally, Wells Fargo & Company raised their target price on MiniMed Group from $22.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.25.

MiniMed Group Company Profile

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.