MiniMed Group's shares jumped 10.66 percent to close at $22.42 after the company reported strong first-quarter revenue growth and received a price target upgrade from BTIG, which raised its target to $28 from $25 while maintaining a buy rating. The company's revenue for the first quarter of fiscal year 2027 grew 16.6 percent to $843 million from $723 million a year earlier, beating consensus estimates of $826.8 million, and it narrowed its attributable net loss to zero from a $19 million loss in the prior-year period. Encouraged by the results, MiniMed raised its full-year organic revenue growth guidance to 10.5 percent from 10 percent, while reaffirming its adjusted EBITDA margin at 16 percent. However, hedge fund conviction weakened in the second quarter, as combined holdings fell 18 percent to $237.55 million from $290.58 million, despite the number of hedge fund holders increasing to 26 from 22.
MiniMed Group, Inc. Common StockStrong Q1 revenue growth and narrowed net loss, plus BTIG price target hike to $28.
