UBS lifts 3M Company [MMM] price estimate. Who else is bullish?

3M Company [NYSE: MMM] jumped around 3.83 points on Friday, while shares priced at $123.10 at the close of the session, up 3.21%. The company report on September 8, 2022 that 3M Health Information Systems division secures key federal government clearance for platform IT and security.


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The 3M Health Information Systems (3M HIS) division has achieved fully authorized Federal Risk and Authorization Management Program (FedRAMP) status for its 3M RevCycle health services platform (RHSP). 3M HIS is the company’s first division with a FedRAMP-approved product. With this designation, 3M RHSP is published on the FedRAMP marketplace, allowing federal entities to more easily contract and work with the company.

3M RHSP hosts and supports key operations offered by 3M HIS, including natural language processing (NLP) support for medical coding, clinical documentation integrity, clinician input and medical coding edits, self-service reporting, and evaluation and management. 3M RHSP utilizes robust statistical methodologies to create a comprehensive NLP platform that suggests medical codes, assists with medical terminology, and eases the provider front-end workflow.

3M Company stock is now -30.70% down from its year-to-date (YTD) trading value. MMM Stock saw the intraday high of $123.285 and lowest of $119.87 per share. The company’s 52-week high price is 188.51, which means current price is +6.14% above from all time high which was touched on 01/05/22.

Compared to the average trading volume of 8.92M shares, MMM reached a trading volume of 26171406 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 $142.52 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 3.40. 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.

UBS have made an estimate for 3M Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 09, 2022. While these analysts kept the previous recommendation, Bernstein raised their target price to Mkt Perform. The new note on the price target was released on August 17, 2022, representing the official price target for 3M Company stock. Previously, the target price had yet another raise from $137 to $144, while Wells Fargo kept a Equal Weight rating on MMM stock. On July 27, 2022, analysts increased their price target for MMM shares from 126 to 131.

The Average True Range (ATR) for 3M Company is set at 3.86, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 1.94. The Price to Book ratio for the last quarter was 5.11, with the Price to Cash per share for the same quarter was set at 5.41. Price to Free Cash Flow for MMM in the course of the last twelve months was 74.99 with Quick ratio for the last quarter at 0.90.

How has MMM stock performed recently?

3M Company [MMM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.01. With this latest performance, MMM shares dropped by -17.59% in over the last four-week period, additionally sinking by -14.47% over the last 6 months – not to mention a drop of -33.73% 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 36.14, with the RSI for the last a single of trading hit 36.85, and the three-weeks RSI is set at 37.44 for 3M Company [MMM]. The present Moving Average for the last 50 days of trading for this stock 135.85, while it was recorded at 120.23 for the last single week of trading, and 151.10 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 +21.29 and a Gross Margin at +46.99. 3M Company’s Net Margin is presently recorded at +16.75.

Return on Equity for this stock inclined to 42.42, with Return on Assets sitting at 12.54.

3M Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.50.

Earnings analysis for 3M Company [MMM]

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 0.40%.

Insider trade positions for 3M Company [MMM]

There are presently around $46,064 million, or 66.90% of MMM stock, in the hands of institutional investors. The top three institutional holders of MMM stocks are: VANGUARD GROUP INC with ownership of 47,888,582, which is approximately 1.245% of the company’s market cap and around 0.09% of the total institutional ownership; BLACKROCK INC., holding 42,987,221 shares of the stock with an approximate value of $5.29 billion in MMM stocks shares; and STATE STREET CORP, currently with $4.02 billion in MMM stock with ownership of nearly 0.291% of the company’s market capitalization.

Positions in 3M Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 1,007 institutional holders increased their position in 3M Company [NYSE:MMM] by around 16,482,687 shares. Additionally, 1,091 investors decreased positions by around 19,679,726 shares, while 295 investors held positions by with 338,033,508 shares. The mentioned changes placed institutional holdings at 374,195,921 shares, according to the latest SEC report filing. MMM stock had 127 new institutional investments in for a total of 2,140,685 shares, while 176 institutional investors sold positions of 2,456,022 shares during the same period.

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