MiniMed Group

MMED · NASDAQ

$17.49−$0.30 (−1.69%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $17.79

MMED analyst rating

BuyConsensus of 16 analysts over the last 12 months. 81% rate it a buy.

Strong buy0
Buy13
Hold3
Underperform0
Sell0

12-month price target · 14 analysts

Average $26.52 (+51.6% upside)

Low: $21.21
Now: $17.49
High: $30.45

Upgrades and downgrades

The latest rating actions, newest first

MMED analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Jefferies	Oct 12, 2026	Initiates	Hold	$22.00	0%
Mizuho	Oct 8, 2026	Maintains	Outperform	$26.00 → $28.00	56%
Barclays	Oct 7, 2026	Initiates	Equal-Weight	$22.00	68%
Truist Securities	Sep 24, 2026	Initiates	Buy	$29.00	50%
Morgan Stanley	Sep 3, 2026	Maintains	Overweight	$19.00 → $21.00	56%
Citigroup	Sep 2, 2026	Maintains	Buy	$23.00 → $26.00	60%
Evercore ISI Group	Sep 2, 2026	Maintains	Outperform	$20.00 → $27.00	61%
Wells Fargo	Sep 2, 2026	Maintains	Overweight	$22.00 → $26.00	54%
UBS	Sep 2, 2026	Maintains	Buy	$25.00 → $28.00	43%
Mizuho	Sep 2, 2026	Maintains	Outperform	$21.00 → $26.00	56%

The case for and against

Updated Oct 17, 2026

Bull case

Minimed Group is attractive because its stand-alone separation should sharpen capital allocation and management focus after years of underinvestment, warning-letter remediation, and product missteps under Medtronic. Its differentiated full-stack diabetes platform—pumps, CGMs, smart pens, and pharmacy—supports recurring consumables revenue, deeper patient attachment, and leverage in underpenetrated T1/T2 insulin-intensive markets, where AID adoption is still early. Financially, the business is showing accelerating momentum, with F1Q revenue of $843M, CGM attach near 69%, FY27 revenue growth guided around 10.5%, and an outlook for EBITDA margin expansion from 15.5% in FY26 to 20.8% by FY29E.

Bear case

Minimed Group is viewed negatively because its leadership in tubed pumps is offset by slower growth than higher-multiple diabetes peers, while its 2028 revenue and EBITDA of $3.96B and $801M still support only a modest valuation discount. The business faces multiple execution risks: competitive launches, slower Type 2 adoption, delayed FIT/Vivera or the planned summer 2027 FIT patch pump, and pharmacy-channel pricing pressure as more pump players enter. Although it is the most profitable of the current pump players and could double EPS over the next 2 years, the March 2026 IPO left MDT with roughly 90% ownership, creating an overhang while stand-up costs, transition services, and royalty payments may temper margin expansion.

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