BofA Securities increased its price target for MiniMed Group to $28 from $24 while maintaining a buy rating, citing the company’s recent regulatory and product development advancements.
The upgrade follows MiniMed’s submission of its Fit product to the U.S. Food and Drug Administration, ahead of the previously planned autumn timeline. The company now targets a summer 2027 launch for Fit, with initial production capacity set at 20,000 units. Separately, MiniMed secured an early CE Mark certification for its Flex product, originally expected before year-end 2026, with a launch scheduled for November.
MiniMed’s stock closed at $22.42 on September 1, 2026, near its 52-week high of $22.74. BofA’s new target implies a valuation multiple of 2.0 times estimated 2027 sales, up from 1.8 times under the prior $24 target. The brokerage also noted MiniMed’s first-quarter revenue of $843 million, exceeding both Wells Fargo’s estimate of $833 million and the consensus of $826.8 million. Organic growth reached 15.8% year-over-year, with global revenue 2% above consensus. U.S. revenue grew in the high single digits to $240 million, while international revenue advanced in the low double digits to $603 million on an organic basis.
Wells Fargo and BTIG also raised their price targets for MiniMed to $26 and $28, respectively, maintaining buy ratings. The stock’s consensus score stands at 1.46, indicating a strong buy sentiment among analysts.
