Loading…
Diabetes device maker (insulin pumps, sensors) spun off from Medtronic in 2026, continuing the legacy MiniMed diabetes business.
Diabetes device maker (insulin pumps, sensors) spun off from Medtronic in 2026, continuing the legacy MiniMed diabetes business.
Sells insulin pump systems and the consumables patients must reorder, such as infusion sets and sensors, so each pump placed brings repeat income for years of use; insurers pay for most of it. It operates standalone after separating from Medtronic.
Moat: narrow (installed base, switching costs, brand). Long-standing MiniMed brand and installed pump base, though newly independent after decades inside Medtronic.
Headquarters: Northridge, California, USA · Founded: 1983 · Employees: 8,000
Size MiniMed (MMED) is a United States Health Care company (Medical Specialties) with a market value of $4.70B, the 1226th largest of 3,117 United States companies the cockpit tracks. Shares closed at $16.71 on 6 Nov 2026.
Performance Over six months the shares gained 44.4%, against +22.6% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 14.2% over the last twelve months (peer median +4.3%); the operating margin is 13.9% (peer median 13.1%).
Valuation It trades at 25.5× forward earnings against a peer median of 19.7× (4th most expensive of 19).
Capital Return on invested capital runs 3.5 points above its cost of capital (6.3% WACC).
Backlog Backlog (remaining performance obligations) was $23.0M at 23 Jan 2026. Backlog detail →
Short interest Short interest is 7.4% of the free float (15 Oct 2026).
Next results Next results expected around 30 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | |
|---|---|---|---|
| Revenue | n/a | $3.10B | $2.71B |
| Revenue growth | — | +14% | — |
| Gross profit | n/a | $1.80B | $1.56B |
| EBITDA | n/a | $587M | $486M |
| Net income | n/a | -$333M | -$213M |
| Free cash flow | n/a | -$420M | -$53.0M |
| Capital expenditure | n/a | $223M | $193M |
| Total debt | $59.0M | $53.0M | $67.0M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| MiniMed MMED | $4.70B | +44% | +14% | 14% | 25.5× | n/a |
| Insulet PODD | $10.2B | -5% | +26% | 18% | 19.5× | 10.3% |
| Tandem Diabetes Care TNDM | $1.18B | +9% | +4% | -4% | n/a | n/a |
| Dexcom DXCM | $29.6B | +31% | +13% | 24% | 27.0× | 18.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MMED | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.6% | +9.4% | 2nd lowest of 21 |
| 6-month return | +44.4% | +22.6% | 6th highest of 21 |
| Distance from 52-week high | -31.6% | -14.5% | 6th lowest of 21 |
| Revenue growth (TTM) | +14.2% | +4.3% | 5th highest of 20 |
| Operating margin | 13.9% | 13.1% | 9th highest of 20 |
| Forward P/E | 25.5× | 19.7× | 4th most expensive of 19 |
| ROIC minus cost of capital | +3.5 pp | +1.6 pp | 6th highest of 19 |
| EV / EBITDA | 7.8× | 14.2× | 2nd cheapest of 13 |
| Net debt / EBITDA | -0.2× | 1.1× | 3rd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MiniMed MMED | United States | $4.70B | +44% | +14% | 14% | 25.5× | n/a | n/a |
| Sotera Health SHC | United States | $4.57B | +1% | +7% | 37% | 15.4× | 13.7% | +7.3% |
| LivaNova LIVN | United States | $4.96B | +25% | +12% | 13% | 19.9× | 11.5% | +8.2% |
| DiaSorin DIA.MI | Italy | $5.00B | +19% | -3% | 24% | 20.6× | 4.1% | +6.3% |
| Intco Medical Technology 300677.SZ | China | $4.40B | -20% | +33% | 20% | 14.7× | -4.7% | -6.4% |
| ICU Medical ICUI | United States | $4.30B | +36% | -9% | 7% | 19.5× | 22.1% | +11.9% |
| Integer ITGR | United States | $4.30B | +44% | 0% | 9% | 18.8× | 19.6% | +11.5% |
| Jiangsu Yuyue Medical Equipment & Supply 002223.SZ | China | $4.26B | -1% | -1% | 13% | 20.4× | 5.1% | +3.4% |
| Merit Medical Systems MMSI | United States | $5.23B | +42% | +9% | 14% | 19.4× | 12.2% | +9.5% |
| CareDx CDNA | United States | $4.13B | +260% | +39% | 1% | 53.2× | n/a | n/a |
| Fielmann FIE.DE | Germany | $4.12B | +3% | +3% | 14% | 17.8× | -5.3% | +11.3% |
| GRAIL GRAL | United States | $5.42B | +67% | +23% | -323% | n/a | n/a | n/a |
| Haemonetics HAE | United States | $5.46B | +118% | 0% | 18% | 21.6× | 10.9% | +8.9% |
| Tecan TECN.SW | Switzerland | $4.05B | +91% | -4% | 1% | 40.1× | 46.9% | +3.8% |
| Envista NVST | United States | $4.04B | +4% | +12% | 11% | 15.6× | 6.8% | +7.1% |
| Pulse Biosciences PLSE | United States | $3.87B | +179% | n/a | -7,008% | n/a | n/a | n/a |
| APT Medical 688617.SS | China | $5.95B | +20% | +28% | 37% | 38.5× | 8.7% | +40.1% |
| Stevanato STVN | United States | $3.70B | -26% | +12% | 18% | 19.3× | 10.6% | +12.1% |
| SCHOTT Pharma AG & Co. KGaA 1SXP.DE | Germany | $3.67B | +31% | +4% | 15% | 22.1× | 11.7% | +11.0% |
| Shandong Weigao Blood Purification Products 603014.SS | China | $3.63B | -3% | +4% | n/a | 20.4× | -1.2% | +8.1% |
| Andon Health 002432.SZ | China | $3.60B | -29% | -30% | -26% | 15.0× | -7.7% | -7.4% |
MiniMed reported $23.0M of remaining performance obligations at 23 Jan 2026.