Analyst Reiterates Buy on MMED, Citing Strong Diabetes Tech Pipeline and Execution, With Price Target Unchanged at $20

Travis Steed, an analyst from Bank of America Securities, maintained the Buy rating on MiniMed Group, Inc.. The associated price target remains the same with $20.00.

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Travis Steed has given his Buy rating due to a combination of factors that highlight MMED’s attractive setup in diabetes technology and long-term cash flow generation. He views the company’s pipeline, particularly the upcoming Fit system and the Vivera patch-based platform, as key drivers of future patient adoption, market share gains, and capital upgrades, all while the stock trades at a valuation that understates its earnings and FCF potential.

Steed also points to operational execution around Flex and its associated sensors, noting a clear ramp in shipments quarter over quarter that should support revenue and margin progression as more sensors come online. With separation from Medtronic progressing, management’s confidence in formulary access, manufacturing readiness for Fit, and the strategic role of Vivera in expanding automated insulin delivery penetration, he believes the risk-reward remains favorable and therefore reiterates a Buy with an unchanged $20 price target.

According to TipRanks, Steed is a 3-star analyst with an average return of 1.5% and a 50.14% success rate. Steed covers the Healthcare sector, focusing on stocks such as Boston Scientific, Medtronic, and Intuitive Surgical.

In another report released on July 9, BTIG also maintained a Buy rating on the stock with a $25.00 price target.