3M Company [MMM] moved up 0.12: Why It’s Important

3M Company [NYSE: MMM] traded at a high on 11/19/20, posting a 0.12 gain after which it closed the day’ session at $171.61. The company report on November 17, 2020 that U.S. Department of Defense to Implement 3M Computer-Assisted Coding Technology Worldwide.

3M Health Information Systems has been awarded a contract by Leidos, prime contractor to the U.S. Department of Defense (DoD) on the Defense Healthcare Management System Modernization (DHMSM) initiative, for components of the 3M™ 360 Encompass™ System platform, 3M’s industry-leading suite of software applications for medical records coding and documentation. The 3M technology will promote improved revenue cycle operations across DoD Military Health System facilities worldwide and help achieve more accurate patient data to support high-quality care for the nation’s 9.6 million active and retired service members and their families.

As the exclusive provider of computer-assisted coding technology to U.S. military treatment facilities, 3M will support DoD interoperability goals, a joint effort with the Department of Veterans Affairs to unify patient records on one system, allowing caregivers to access and share information for improved patient treatment and continuity of care. The contract provides for implementation of 3M 360 Encompass components at an initial operating capability site in the Military Health System (MHS). Additional task orders will direct global deployment of 3M 360 Encompass throughout the entire MHS.

The results of the trading session contributed to over 2982392 shares changing hands. Over the past one week, the price volatility of 3M Company stands at 1.92% while the volatility over the past one month is 2.39%.

The market cap for MMM stock reached $97.39 billion, with 577.80 million shares outstanding and 575.73 million shares in the current float. Compared to the average trading volume of 2.42M shares, MMM reached a trading volume of 2982392 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 $173.44 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 4.04, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 3.07. The Price to Book ratio for the last quarter was 8.35, with the Price to Cash per share for the same quarter was set at 8.04. Price to Free Cash Flow for MMM in the course of the last twelve months was 33.00 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 2.73. With this latest performance, MMM shares gained by 1.44% in over the last four-week period, additionally plugging by 17.19% over the last 6 months – not to mention a rise of 2.29% 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 59.65, with the RSI for the last a single of trading hit 60.60, and the three-weeks RSI is set at 56.69 for 3M Company [MMM]. The present Moving Average for the last 50 days of trading for this stock 165.76, while it was recorded at 172.06 for the last single week of trading, and 155.99 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and 3M Company [MMM] shares currently have an operating margin of +21.70 and a Gross Margin at +47.63. 3M Company’s Net Margin is presently recorded at +14.22.

Return on Total Capital for MMM is now 24.92, given the latest momentum, and Return on Invested Capital for the company is 17.72. Return on Equity for this stock inclined to 46.02, with Return on Assets sitting at 11.26. When it comes to the capital structure of this company, 3M Company [MMM] has a Total Debt to Total Equity ratio set at 211.66. Additionally, MMM Total Debt to Total Capital is recorded at 67.91, with Total Debt to Total Assets ending up at 47.69. Long-Term Debt to Equity for the company is recorded at 181.22, with the Long-Term Debt to Total Capital now at 58.15.

Reflecting on the efficiency of the workforce at the company, 3M Company [MMM] managed to generate an average of $47,523 per employee. Receivables Turnover for the company is 6.55 with a Total Asset Turnover recorded at a value of 0.79.3M 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 $64,906 million, or 67.70% of MMM stock, in the hands of institutional investors. The top three institutional holders of MMM stocks are: VANGUARD GROUP INC with ownership of 45,361,184, which is approximately -1.318% of the company’s market cap and around 0.19% of the total institutional ownership; BLACKROCK INC., holding 38,855,440 shares of the stock with an approximate value of $6.67 billion in MMM stocks shares; and STATE STREET CORP, currently with $5.25 billion in MMM stock with ownership of nearly -26.689% of the company’s market capitalization.

Positions in 3M Company stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 916 institutional holders increased their position in 3M Company [NYSE:MMM] by around 26,332,968 shares. Additionally, 924 investors decreased positions by around 27,386,206 shares, while 286 investors held positions by with 324,496,487 shares. The mentioned changes placed institutional holdings at 378,215,661 shares, according to the latest SEC report filing. MMM stock had 140 new institutional investments in for a total of 13,106,975 shares, while 85 institutional investors sold positions of 1,315,326 shares during the same period.

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