MiniMed Group (NASDAQ:MMED) Trading Down 5% – Here’s Why

MiniMed Group Inc (NASDAQ:MMED)’s stock price dropped 5% on Thursday . The company traded as low as $14.56 and last traded at $14.4660. Approximately 159,725 shares were traded during trading, a decline of 85% from the average daily volume of 1,036,659 shares. The stock had previously closed at $15.22.

Analyst Upgrades and Downgrades

MMED has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on MiniMed Group in a research report on Tuesday, March 31st. They set a “neutral” rating and a $16.00 target price for the company. Bank of America assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $27.00 target price for the company. The Goldman Sachs Group assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $24.00 target price for the company. BTIG Research assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $25.00 target price for the company. Finally, Morgan Stanley assumed coverage on MiniMed Group in a research note on Tuesday, March 31st. They set an “overweight” rating and a $19.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.45.

MiniMed Group Stock Down 6.3%

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.