MiniMed Group (MMED) Reiterated at Buy by Benchmark After ADA Meeting

Benchmark analyst Bruce Jackson reiterated a Buy rating and $20.00 price target on MiniMed Group (NASDAQ: MMED).

The analyst commented, "We caught up with MiniMed at the recent annual meeting of the American Diabetes Association (ADA) and are updating our model for FQ4. MiniMed formally launched two new products at ADA, the MiniMed Flex AID system and the MiniMed Go smart insulin pen. The two products are examples of MiniMed’s strategy to provide users with a complete selection of CGM and insulin delivery options that operate through a single app. The app helps retain users in the MiniMed ecosystem and provides access to the company’s latest algorithms, which we believe offers a compelling value proposition. The strategy appears to be working, with MiniMed’s attachment rate (the percentage of customers who use both a MiniMed CGM and an AID together) rising to 68% in FQ4 2026 from 59% in FY 2025. Management is targeting adjusted EBITDA margins of about 16% for FY 2027 on organic revenue growth of approximately 10%. The upcoming FQ1 should be strong due to a combination of pent-up demand as users delayed purchasing a new pump in anticipation of the Flex, and an extra week in the quarter. We’re nudging our FY 2027 revenue estimate up slightly, to $3.430 billion from $3.409 billion. Upcoming catalysts include completion of a clinical trial evaluating the Vivera fully closed loop algorithm, the FDA submission for the Fit patch pump in the fall of this year, and the launch of both products in CY 2027. We reiterate our Buy rating a $20 price target, which is 1.5x our FY2027 revenue estimate."

For an analyst ratings summary and ratings history on MiniMed Group click here. For more ratings news on MiniMed Group click here.

Shares of MiniMed Group closed at $15.47 yesterday.

You May Also Be Interested In

• Ferroglobe (GSM) Tops Q2 EPS by 4c
• Parametric Sound (PAMT) Misses Q2 EPS by 25c
• loanDepot (LDI) Misses Q2 EPS by 3c