MiniMed Group Inc’s Quiet Period To End on April 15th (NASDAQ:MMED)

MiniMed Group’s (NASDAQ:MMED) quiet period will end on Wednesday, April 15th. MiniMed Group had issued 28,000,000 shares in its IPO on March 6th. The total size of the offering was $560,000,000 based on an initial share price of $20.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

Several research firms have recently commented on MMED. Wall Street Zen raised MiniMed Group to a “hold” rating in a report on Saturday, March 14th. Mizuho initiated coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They set an “outperform” rating and a $21.00 price objective for the company. Evercore initiated coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They set an “outperform” rating and a $20.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $24.00 price objective for the company. Finally, Wells Fargo & Company initiated coverage on shares of MiniMed Group in a research report on Tuesday, March 31st. They set an “overweight” rating and a $26.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, MiniMed Group has a consensus rating of “Moderate Buy” and an average price target of $22.45.

MiniMed Group Trading Down 0.2%

NASDAQ:MMED opened at $13.20 on Wednesday. MiniMed Group has a 1-year low of $12.80 and a 1-year high of $20.48.

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.