MMED
MiniMed Group, Inc.
Next earnings ≈ Sep 10, 2026 · est. from filing cadence
Last earnings +15.9% on 2026-06-03
$15.59
▲ +4.77%$15.59▼ -15.68%
over 1Y
L $10.80H $18.49
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+4.8%
1W+9.6%
1M+26.7%
3M+11.3%
YTD-15.7%
1Y-15.7%
Hold
Conviction
Horizon
Long (>12mo)
Street · 15 analysts
Buy
Real diabetes franchise at a cheap 1.3x sales, but accelerating losses, heavy cash burn and a 90% Medtronic overhang keep it a hold.
Revenue $3.10B · FY2026
MiniMed is the scaled diabetes business carved out of Medtronic — flagship MiniMed 780G AID systems plus Smart MDI and CGM — that IPO'd on March 9, 2026. The top line is the bright spot: revenue compounded from $2.47B (FY24) to $2.71B (FY25) to $3.10B (FY26, +14.3%), and a 54.2% gross margin is genuinely attractive medtech economics. At $14.88 the market cap is $4.18B, only 1.3x sales — a low multiple for a durable, growing, high-gross-margin franchise. On the franchise and valuation alone this looks interesting.
The problem is everything below the gross line. Losses are not shrinking, they are accelerating: net income went -$112M → -$213M → -$333M while operating income (-$190M, -6.1% margin) and diluted EPS (-$1.30) both deteriorated. Worse, the company is burning cash — operating cash flow was -$197M and capex was $223M, implying roughly -$420M of free cash burn against only $298M of cash on hand (a figure that itself spiked 2,609% purely because of IPO proceeds). That is under a year of runway at the current pace, which forces the eventual choice between a capital raise and a sharp cost cut.
Is MMED a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~90d expiry
- Long 100 shares @ ~15.59
- Short call 16.5 @ ~1.72 est
debit $1,387max +$263max −$1,386BE 13.87
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | $2.47B | $2.71B | $3.10B |
| Gross profit | $1.44B | $1.53B | $1.68B |
| Operating income | -$69.0M | -$146M | -$190M |
| Net income | -$112M | -$213M | -$333M |
| Diluted EPS | -$0.44 | -$0.84 | -$1.30 |
| Net margin | -4.5% | -7.8% | -10.7% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$4.09B
EV / EBITDA—
EV / Sales1.3
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-7.6%
FCF yield-9.6%
Quality & risk
ROIC (est.)-4.2%
Free cash flow-$420M
Total debt—
Net cash$298M
Altman Z-Score3.25 safe
Piotroski F-Score3/7
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Officer / director change2026-06-29
FY26: revenue +14% to $3.10B but net loss widened to -$333M; OCF negative
- 10-K Annual report2026-06-29
FY26: revenue +14% to $3.10B but net loss widened to -$333M; OCF negative
- 8-K Earnings results2026-06-03
First earnings release as public company: revenue grew but net loss widened
- 8-K Officer / director change2026-05-18
Executive/board leadership change (Item 5.02) reported
- 8-K Reg FD disclosure2026-04-27
Reg FD disclosure (investor/conference materials); no financial change
- 10-Q Quarterly report2026-04-17
First standalone quarterly results after March 2026 Medtronic-carveout IPO
- 8-K Officer / director change2026-03-27
Post-IPO executive/board change (Item 5.02) reported
- 8-K Reg FD disclosure2026-03-25
Reg FD disclosure shortly after IPO; no financial impact
- S-1/A Securities registration2026-02-27
Recent filings
all on EDGAR ↗10-KPeriod ending 2026-04-242026-06-29open ↗8-KPeriod ending 2026-06-252026-06-29open ↗8-KPeriod ending 2026-06-032026-06-03open ↗8-KPeriod ending 2026-05-172026-05-18open ↗SCHEDULE 13GFiling2026-05-06open ↗8-KPeriod ending 2026-04-242026-04-27open ↗10-QPeriod ending 2026-01-232026-04-17open ↗4Period ending 2026-03-252026-03-27open ↗8-KPeriod ending 2026-03-232026-03-27open ↗8-KPeriod ending 2026-03-252026-03-25open ↗4Period ending 2026-03-112026-03-13open ↗4Period ending 2026-03-112026-03-13open ↗
Frequently asked
- Is MiniMed Group, Inc. (MMED) a buy?
- MMED currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Real diabetes franchise at a cheap 1.3x sales, but accelerating losses, heavy cash burn and a 90% Medtronic overhang keep it a hold.
- What is MiniMed Group, Inc.'s quality score?
- MMED scores 52.88235294117647/100 (grade C-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0002062583, latest 10-K filed 2026-06-29) · EODHD · Proprietary analysis · as of 6/29/2026, 10:29:39 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 29, 2026, 6:29 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.