Citi Sticks to Its Buy Rating for MiniMed Group, Inc. (MMED)

Citi Sticks to Its Buy Rating for MiniMed Group, Inc. (MMED): On July 17, Citi analyst Joanne Wuensch reiterated a Buy rating for MiniMed Group, Inc. The stock closed last Friday at $16.93. Citi’s stance aligns with a broader Street view that shows an analyst consensus of Strong Buy and a $21.40 average price-target consensus, implying 26.40% upside from current levels. In the same timeframe, Bank of America Securities also maintained a Buy rating in a report dated July 15, setting a $20.00 price target. Financially, the company’s latest earnings release for the quarter ending April 24 reported $837 million in quarterly revenue and a GAAP net loss of $183 million. A year earlier, revenue was $724 million and the GAAP net loss totaled $209 million.