Wall Street bullish on MiniMed after $560 million IPO
31/03/2026 19:29
** Shares of Medtronic's diabetes business MiniMed MMED.O rise 3% to $14.79 after at least seven brokerages initiate coverage with largely bullish calls as research quiet period ends ** Co secured a valuation of $5.35 billion after shares opened 4.8% below their offer price in Nasdaq debut ** Analyst at BofA says, "the split is timely given MMED is at an inflection with a pipeline to accelerate growth" ** "We expect MMED to sustain HSD+ (nearly 10%) top line growth, supported by a refreshed product pipeline with better form factor, outcomes, and patient experience" - Evercore ISI ** Wells Fargo says, "the company is uniquely positioned with control over the full automated insulin delivery (AID) stack, including algorithm, pumps and digital infrastructure ** MMED down 28.25% since its debut on March 6
| Brokerage | Rating | PT |
| Wells Fargo | Overweight | $26 |
| BofA | Buy | $27 |
| Deutsche Bank | Buy | $20 |
| Mizuho | Outperform | $21 |
| Evercore ISI | Outperform | $20 |
| Citigroup | Buy | $23 |
| Piper Sandler | Neutral | $16 |