MiniMed initiated with a Buy at Benchmark

Benchmark last night initiated coverage of MiniMed (MMED) with a Buy rating and $20 price target MiniMed is the only company with an “across-the-board strategy” for diabetes management, offering continuous glucose monitors, automated insulin delivery systems, and smart pens for multiple daily insulin injections, the analyst tells investors in a research note. The firm says MiniMed’s operating results for the quarter ending January indicate strong international growth, even as the company works through the complexities of its separation from Medtronic.