MiniMed initiated with an Outperform at Mizuho

Mizuho initiated coverage of MiniMed (MMED) with an Outperform rating and $21 price target The firm views the diabetes space as attractive, valued at $18B globally and growing in the high-teens. MiniMed has a “one-stop shop model,” consisting of smart pens, stand-alone glucose monitors, and integrated automated insulin delivery systems which are differentiated versus competitors, the analyst tells investors in a research note.