MiniMed Group, Inc. Common Stock

MiniMed Group reported first-quarter fiscal 2027 results for the period ended July 31, 2026, with worldwide net sales up 16.6% as reported and 15.8% organically to $843 million, U.S. net sales up 13.1%, and management raising full-year organic revenue growth guidance to approximately 10.5% from 10%. Nine analysts raised their price targets after the print, with BofA lifting its target to $28 from $24, Mizuho to $26 from $21, BTIG to $28 from $25, and Wells Fargo's Larry Biegelsen to $26 from $22, all citing pipeline milestones landing ahead of schedule, including MiniMed Fit's FDA submission with a full U.S. launch expected summer 2027, a CE Mark for MiniMed Flex, completed enrollment in the Vivera closed-loop trial, and IDE approval for the next-generation extended wear sensor. Operating detail supported the optimism, with new pumps sold in the U.S. up more than 20% year-over-year, new prescribers writing for Flex up 24%, competitive conversions from rival pump makers doubled from a year ago, and the global CGM attachment rate reaching 69% from 64%. The cash flow picture was weaker: adjusted EBITDA margin was just 9.9% and free cash flow was negative $90 million, of which $111 million came from separation and standup costs tied to building MiniMed into an independent company, without which free cash flow would have been positive $21 million, while $8 million in pulled-forward spending and a $12 million currency remeasurement charge together cut about 230 basis points from EBITDA margin. Only 17 of the 160 transition service agreements with Medtronic have been exited, most of the rest are not expected to wrap up until sometime in calendar 2027, and an extra week in the fiscal calendar added 4 to 6 percentage points to reported growth that management said will normalize out next quarter. Hedge fund ownership rose to 26 funds from 22, while short interest sits at 28.25% of float.

Novo Nordisk will shorten its name to Novo and update its logo, with its trademark bull shifting to face right, as the Danish drugmaker battles Eli Lilly for dominance in the obesity-drug market. CEO Mike Doustdar is pushing to make Novo leaner and more competitive, and the company will detail its updated corporate strategy at a Capital Markets Day on September 21 in London. Separately, Eli Lilly said the U.S. FDA granted full approval for an all-oral regimen combining its estrogen receptor antagonist Inluriyo and kinase inhibitor Verzenio as a late-line option for adults with estrogen receptor-positive, HER2-negative breast cancer with an ESR1 mutation whose disease progressed after one or more prior endocrine therapies. GE HealthCare Technologies is in advanced talks to acquire Sofie Biosciences for about $1 billion, a deal that would expand its presence in radioactive diagnostic agents used with medical scans, according to the Financial Times. Summit Therapeutics said ivonescimab reduced the risk of death by 27% versus Merck's Keytruda in a late-stage lung cancer trial, with median overall survival of 30.8 months versus 22.6 months. Medtronic launched an exchange offer to split off at least 80.1% of MiniMed Group, allowing shareholders to exchange ordinary shares for MiniMed common stock at a 7% discount.

MiniMed reported its first full quarter as a stand-alone public company on September 1, with revenue rising 15.8% to $843 million and management raising its full-year organic revenue growth guidance to roughly 10.5% from 10%. US revenue grew 13.1%, a sharp acceleration from the 1.5% growth posted in the prior quarter, as the MiniMed Flex insulin pump that began shipping in late June drove new US pump sales up more than 20% year over year and new prescribers writing for Flex up 24%. International revenue grew 16.9%, helped by a threefold increase in Simplera sensor manufacturing output, with new pump sales jumping 50% in the UK and 20% in France after the region gained access to the 15-day Instinct sensor. Profitability lagged the top line: adjusted EBITDA margin was 9.9% and free cash flow was negative $90 million, including $111 million in separation and standup costs, without which free cash flow would have been positive $21 million, while only 17 of 160 transition service agreements with Medtronic have been exited. MiniMed also flagged that an extra week in its fiscal calendar added 4 to 6 percentage points to the quarter's growth rate, and noted that hedge fund ownership rose from 22 funds to 26 while short interest stands at 20.66% of float.

MiniMed reported fiscal first-quarter revenue of $843 million, up 15.8% organically, and raised its full-year organic revenue growth outlook to approximately 10.5% from 10%. The company, which became a stand-alone public company in early March after its IPO, saw U.S. revenue grow 13.1% and international revenue rise 16.9%, with the extra week in the fiscal calendar contributing 4 to 6 points to growth. Adjusted EBITDA was $83 million, a margin of 9.9%, including a 230-basis-point impact from accelerated investments and a nonoperational FX charge. CEO Que Dallara highlighted the successful launch of the MiniMed Flex pump, which drove U.S. new pump sales up over 20%, and announced that the MiniMed Fit patch pump has been submitted to the FDA ahead of schedule, with a full U.S. launch expected by summer 2027. The company also completed enrollment in the U.S. pivotal trial for its Vivera fully closed-loop algorithm, with a launch expected in the second half of calendar 2027, and received IDE approval for a next-generation extended wear sensor.

Medtronic plc's shares rose 1.5% after reporting first-quarter fiscal 2027 revenues of $9,756 million, surpassing the Zacks Consensus Estimate of $9,470.48 million. MiniMed Group Inc. shares jumped 10.7% after posting first-quarter fiscal 2027 revenues of $843 million, beating the estimate of $828 million. NIO Inc. shares tumbled 4% after reporting second-quarter fiscal 2026 revenues of $4,736.39 million, missing the estimate of $4,780.55 million. Apple Inc. shares gained 2.6% after John Ternus, its former senior vice president of hardware engineering, became the new CEO, succeeding Tim Cook after 15 years.

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.

The U.S. Food and Drug Administration on Tuesday approved Abbott Laboratories' Libre Duo 10 Day Continuous Dual Glucose Ketone Monitoring System for diabetes patients aged two and older, making it the first wearable in the U.S. to continuously monitor ketone levels and the first global system to track blood sugar and ketones simultaneously in a single unit. The agency granted marketing authorization via the De Novo pathway for new low-to-moderate-risk devices, following a review of six clinical studies involving over 600 participants that demonstrated accurate tracking of clinically significant ketone variations. The sensor, which offers up to 10 days of wear, alerts users when ketones rise, replacing single-point urine or blood tests. Abbott is working with pump companies to integrate the sensor with automated insulin delivery systems, expecting compatibility with iLet from Beta Bionics Inc and twiist from Sequel Med Tech by the end of this year, and with systems from Insulet Corp and Tandem Diabetes Care Inc by 2027, alongside an exclusive integration with MiniMedGroup Inc for smart dosing systems. William Blair analyst Brandon Vazquez noted the clearance may create a new competitive dynamic for DexCom Inc shares, with the sensor likely most competitive in the pediatric population once integrated with AID pumps next year.

MiniMed Group announced on August 17 that its MiniMed Flex automated insulin delivery system is now commercially shipping in the U.S., integrated with Abbott Laboratories' Instinct continuous glucose sensor. The system pairs MiniMed's smallest, only app-controlled insulin pump with Abbott's world's-smallest 15-day sensor, holds 300 units of insulin, and connects to a 7-day Extended infusion set. Real-world data shows the system reaches 80% Time in Range and over 90% overnight. Abbott reported $12.6 billion in quarterly revenue for Q2 2026, a 13.0% reported growth rate, and raised full-year EPS guidance to $5.45–$5.60. MiniMed, with a market cap of roughly $5.67 billion, is scheduled to report fiscal Q1 2027 results on September 1, 2026.

MiniMed has appointed Alcon CEO David Endicott and Medtronic executive Linnea Burman to its Board of Directors, expanding the board from nine to 11 members. Endicott brings decades of global healthcare leadership and public company experience, including leading Alcon's spin-out and return to the public markets, and will serve on the Compensation and Talent Committee. Burman, designated by majority shareholder Medtronic following MiniMed's separation and IPO earlier this year, is Senior Vice President and President of Neurovascular at Medtronic and adds MedTech operating depth. The appointments come as MiniMed sharpens execution as an independent diabetes technology company.

MiniMed has commercially launched its MiniMed 780G automated insulin delivery system integrated with Abbott Laboratories' Instinct sensor and the MiniMed Go system integrated with the Instinct Go sensor across Europe. The rollout expands the company's sensor portfolio in the region and provides people with diabetes greater flexibility and choice in managing their condition. The MiniMed 780G system can now be paired with Abbott's Instinct sensor, a 15-day continuous glucose monitoring sensor marketed as the world's smallest, thinnest and most discreet sensor, while the MiniMed Go platform integrates the InPen smart insulin pen with the Instinct Go sensor through a single mobile application. A recent randomized crossover study demonstrated that glycemic outcomes were virtually identical when the 780G system was used with either the Instinct sensor or the company's Simplera Sync sensor, highlighting the strength of the platform's underlying algorithm. Shares of MiniMed have traded flat since the announcement on Wednesday, and in the year-to-date period the stock has lost 25.7 percent compared with the industry's 7.8 percent decline.

MiniMed has commercially launched the MiniMed Flex system in the United States, its first app-controlled insulin pump and the company's smallest yet. The system debuts with the Simplera Sync sensor, a disposable all-in-one sensor with two-step insertion, while a launch with Abbott's Instinct sensor is expected later this summer. About half the size of other MiniMed pumps, the MiniMed Flex holds 300 units of insulin and is powered by the SmartGuard algorithm with Meal Detection technology, which can deliver correction doses for missed meal boluses. Real-world results have demonstrated 80% Time in Range with recommended settings, and the system is FDA cleared for people with type 1 diabetes ages 7 and older as well as adults 18 and older with insulin-requiring type 2 diabetes.