MiniMed Group (NASDAQ:MMED) Releases Earnings Results, Misses Expectations By $0.46 EPS

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

MiniMed Group Trading Up 2.5%

NASDAQ MMED opened at $12.30 on Wednesday. The business’s fifty day moving average is $13.10. MiniMed Group has a fifty-two week low of $10.65 and a fifty-two week high of $20.48.

Analysts Set New Price Targets

MMED has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of MiniMed Group in a report on Tuesday, March 31st. They set an “overweight” rating and a $19.00 target price on the stock. Weiss Ratings began coverage on MiniMed Group in a research report on Wednesday, May 27th. They issued a “sell (d)” rating on the stock. Mizuho began coverage on MiniMed Group in a research note on Tuesday, March 31st. They set an “outperform” rating and a $21.00 target price for the company. Barclays initiated coverage on MiniMed Group in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $26.00 price objective on the stock. Finally, BTIG Research began 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

About MiniMed Group

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.