why 3M Company [MMM] is a Good Choice for Investors After New Price Target of $159.94

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3M Company [NYSE: MMM] price surged by 4.15 percent to reach at $6.15. The company report on May 3, 2022 that 3M Littmann CORE Digital Stethoscope Honored in Fast Company’s 2022 World Changing Ideas Awards.

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3M™ Littmann® today announced its 3M™ Littmann® CORE Digital Stethoscope received honorable mention accolades in the health category of the 2022 Fast Company World Changing Ideas global awards program recognizing companies, products and initiatives that support innovation for the public good and tackle social inequality, climate change and public health crises.

Currently available in 21 countries, the 3M Littmann CORE Digital Stethoscope is a first-of-its-kind smart stethoscope. Released in October 2020, it marries best-in-class 3M Littmann technology with advanced digital innovations from Eko, a digital health company advancing heart and lung disease detection. Benefits to clinicians include:.

A sum of 3669165 shares traded at recent session while its average daily volume was at 3.45M shares. 3M Company shares reached a high of $154.66 and dropped to a low of $147.88 until finishing in the latest session at $154.23.

The one-year MMM stock forecast points to a potential upside of 3.57. The average equity rating for MMM stock is currently 3.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $159.94 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 3.20. 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.

Argus have made an estimate for 3M Company shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 28, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $136 to $138. The new note on the price target was released on April 27, 2022, representing the official price target for 3M Company stock. Previously, the target price had yet another drop from $167 to $164, while Deutsche Bank kept a Hold rating on MMM stock. On April 27, 2022, analysts decreased their price target for MMM shares from 173 to 161.

The Average True Range (ATR) for 3M Company is set at 3.47, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 2.53. The Price to Book ratio for the last quarter was 5.91, with the Price to Cash per share for the same quarter was set at 5.79. Price to Free Cash Flow for MMM in the course of the last twelve months was 54.40 with Quick ratio for the last quarter at 1.00.

MMM Stock Performance Analysis:

3M Company [MMM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.95. With this latest performance, MMM shares gained by 3.14% in over the last four-week period, additionally sinking by -15.24% over the last 6 months – not to mention a drop of -23.44% 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 60.70, with the RSI for the last a single of trading hit 66.23, and the three-weeks RSI is set at 56.48 for 3M Company [MMM]. The present Moving Average for the last 50 days of trading for this stock 147.77, while it was recorded at 147.92 for the last single week of trading, and 172.42 for the last 200 days.

Insight into 3M Company Fundamentals:

3M Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.60.

MMM Stock EPS

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 7.17%.

3M Company [MMM] Insider Position Details

There are presently around $56,856 million, or 68.70% of MMM stock, in the hands of institutional investors. The top three institutional holders of MMM stocks are: VANGUARD GROUP INC with ownership of 50,240,763, which is approximately 0.218% of the company’s market cap and around 0.12% of the total institutional ownership; BLACKROCK INC., holding 41,810,186 shares of the stock with an approximate value of $6.19 billion in MMM stocks shares; and STATE STREET CORP, currently with $4.59 billion in MMM stock with ownership of nearly 1.476% of the company’s market capitalization.

1,084 institutional holders increased their position in 3M Company [NYSE:MMM] by around 13,413,607 shares. Additionally, 1,081 investors decreased positions by around 17,965,380 shares, while 284 investors held positions by with 352,574,952 shares. The mentioned changes placed institutional holdings at 383,953,939 shares, according to the latest SEC report filing. MMM stock had 194 new institutional investments in for a total of 2,534,208 shares, while 158 institutional investors sold positions of 1,510,524 shares during the same period.