MiniMed initiated with an Outperform at William Blair

William Blair initiated coverage of MiniMed (MMED) with an Outperform rating. The firm says MiniMed is a “pure-play” diabetes devices company with a broad product portfolio spanning insulin pumps, continuous glucose monitors, insulin pens, and software algorithms that create connected devices. William Blair says the shares are trading at a meaningful discount to peers, creating a favorable risk/reward.