MiniMed price target lowered to $20 from $27 at BofA

BofA analyst Travis Steed lowered the firm’s price target on MiniMed (MMED) to $20 from $27 and keeps a Buy rating on the shares. After having hosted 34 medtech companies last week in Las Vegas, the firm updated several price targets for “the new reality of medtech valuations” in a year of few product cycles, ACA and utilization worries, inflation kicking up post-war, and “data centers over healthcare,” the analyst tells investors.