MiniMed (MMED): Nine Analysts Raised Targets, But Cash Flow Still Has a Catch
On September 1, 2026, MiniMed Group, Inc. (NASDAQ:MMED) reported strong first-quarter fiscal 2027 results for the period ending July 31, 2026. Worldwide net sales increased 16.6% and 15.8% organically to $843 million, while U.S. net sales grew 13.1%. Management raised full-year organic revenue growth guidance to approximately 10.5% from 10%.
Multiple analysts raised their price targets for MiniMed, with BofA raising its target to $28 from $24, calling it a solid beat with pipeline updates as the main catalyst. Mizuho raised its target to $26 from $21, and BTIG raised its target to $28 from $25. Wells Fargo's Larry Biegelsen raised his target to $26 from $22, while Morgan Stanley, UBS, Citi, Deutsche Bank, and Evercore ISI also increased their targets.
However, despite the bullish analyst sentiment, the company reported negative free cash flow of $90 million for the quarter, primarily due to separation and standup costs tied to becoming an independent company and other non-recurring expenses.
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