Market Analysts see 3M Company [MMM] gaining to $170. Time to buy?

3M Company [NYSE: MMM] traded at a high on 11/03/20, posting a 1.58 gain after which it closed the day’ session at $165.51. The company report on October 28, 2020 that 3M Expands Surgical Portfolio with PREVENA RESTOR AXIO•FORM™ Incision Management System, a New Way to Address Challenges and Improve Outcomes associated with Lower Extremity Fractures.

The PREVENA RESTOR™ Therapy portfolio optimizes post-operative care by delivering negative pressure therapy to the incision and surrounding soft tissue to enhance recovery.

3M today is announcing the availability of PREVENA RESTOR AXIO•FORM™ Incision Management System, designed to manage post-operative incisions, as well as the surrounding soft tissue envelope, following the orthopedic surgical repair of lower extremity fractures. PREVENA RESTOR AXIO•FORM™ helps stabilize the incision & surrounding soft tissue, reduce edema, and help enhance post-operative recovery. This is the third offering in the PREVENA RESTOR™ Therapy portfolio, launched in 2019, to optimize post-surgical care and expand the company’s specialty surgical offerings.

The results of the trading session contributed to over 1884030 shares changing hands. Over the past one week, the price volatility of 3M Company stands at 2.18% while the volatility over the past one month is 1.97%.

The market cap for MMM stock reached $94.59 billion, with 577.80 million shares outstanding and 575.76 million shares in the current float. Compared to the average trading volume of 2.37M shares, MMM reached a trading volume of 1884030 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 3M Company [MMM]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MMM shares is $171.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MMM stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Gordon Haskett have made an estimate for 3M Company shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 07, 2020. The new note on the price target was released on March 30, 2020, representing the official price target for 3M Company stock. On December 23, 2019, analysts increased their price target for MMM shares from 143 to 150.

The Average True Range (ATR) for 3M Company is set at 3.73, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 2.98. The Price to Book ratio for the last quarter was 8.05, with the Price to Cash per share for the same quarter was set at 7.98. Price to Free Cash Flow for MMM in the course of the last twelve months was 32.05 with Quick ratio for the last quarter at 1.40.

How has MMM stock performed recently?

3M Company [MMM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.78. With this latest performance, MMM shares gained by 1.70% in over the last four-week period, additionally plugging by 13.21% over the last 6 months – not to mention a drop of -5.37% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MMM stock in for the last two-week period is set at 50.97, with the RSI for the last a single of trading hit 52.90, and the three-weeks RSI is set at 51.28 for 3M Company [MMM]. The present Moving Average for the last 50 days of trading for this stock 165.01, while it was recorded at 161.08 for the last single week of trading, and 155.89 for the last 200 days.

3M Company [MMM]: Deeper insight into the fundamentals

3M Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.90.

Earnings analysis for 3M Company [MMM]

With the latest financial reports released by the company, 3M Company posted 2.15/share EPS, while the average EPS was predicted by analysts to be reported at 2.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MMM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for 3M Company go to 3.66%.

Insider trade positions for 3M Company [MMM]

There are presently around $62,912 million, or 67.20% of MMM stock, in the hands of institutional investors. The top three institutional holders of MMM stocks are: VANGUARD GROUP INC with ownership of 45,966,932, which is approximately -11.361% of the company’s market cap and around 0.18% of the total institutional ownership; STATE STREET CORP, holding 41,736,351 shares of the stock with an approximate value of $6.91 billion in MMM stocks shares; and BLACKROCK INC., currently with $6.21 billion in MMM stock with ownership of nearly -8.234% of the company’s market capitalization.

889 institutional holders increased their position in 3M Company [NYSE:MMM] by around 22,186,270 shares. Additionally, 932 investors decreased positions by around 26,854,558 shares, while 276 investors held positions by with 331,067,503 shares. The mentioned changes placed institutional holdings at 380,108,331 shares, according to the latest SEC report filing. MMM stock had 122 new institutional investments in for a total of 2,022,703 shares, while 107 institutional investors sold positions of 3,075,799 shares during the same period.

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