3M Company [MMM] stock Upgrade by UBS analyst, price target now $126

3M Company [NYSE: MMM] loss -0.95% or -1.09 points to close at $113.11 with a heavy trading volume of 3141662 shares. The company report on October 20, 2022 that 3M Oral Care introduces new custom matrix system that makes restorative procedures more affordable for patients, more predictable for dentists.

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– Today’s dental patients are looking for less-invasive options to improve their smile at a price they can afford. That’s why 3M has introduced the 3M™ Filtek™ Matrix – a new restorative solution that makes composite placement less stressful and more predictable for dentists and more affordable for their patients.

Dental composites can be a great choice to restore or improve the aesthetics of a patient’s smile. However, the traditional process can be long and complicated. The 3M Filtek Matrix procedure begins with a digital restoration design. A patient-specific matrix is created that helps the clinician transfer the digital design to the patient’s teeth using 3M dental composites. Unlike more invasive ceramic procedures, which often require the removal of tooth structure, the Filtek Matrix relies on additive composite techniques where little to no tooth reduction is required. In a clinical evaluation, dentists reported that using the matrix increased their confidence, delivered predictable and esthetic results, and saved chair time.

It opened the trading session at $113.98, the shares rose to $115.65 and dropped to $112.89, the range by which the price of stock traded the whole day. The daily chart for MMM points out that the company has recorded -25.47% loss over the past six months. However, it is still -5.64% lower than its most recent low trading price.

If we look at the average trading volume of 9.55M shares, MMM reached to a volume of 3141662 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $132.18 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 3.30. 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 2.97, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 1.85. The Price to Book ratio for the last quarter was 4.70, with the Price to Cash per share for the same quarter was set at 5.21. Price to Free Cash Flow for MMM in the course of the last twelve months was 71.51 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for MMM stock

3M Company [MMM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.01. With this latest performance, MMM shares dropped by -1.48% in over the last four-week period, additionally sinking by -25.47% over the last 6 months – not to mention a drop of -37.99% 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 44.86, with the RSI for the last a single of trading hit 48.40, and the three-weeks RSI is set at 42.56 for 3M Company [MMM]. The present Moving Average for the last 50 days of trading for this stock 122.97, while it was recorded at 114.15 for the last single week of trading, and 142.17 for the last 200 days.

3M Company [MMM]: A deeper dive into fundamental analysis

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.

3M Company [MMM]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at 3M Company [MMM]

There are presently around $42,172 million, or 66.80% 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 0.12% of the total institutional ownership; BLACKROCK INC., holding 42,987,221 shares of the stock with an approximate value of $4.86 billion in MMM stocks shares; and STATE STREET CORP, currently with $3.7 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 October and at the time of the October reporting period, where 955 institutional holders increased their position in 3M Company [NYSE:MMM] by around 16,567,640 shares. Additionally, 1,091 investors decreased positions by around 20,261,487 shares, while 302 investors held positions by with 336,013,000 shares. The mentioned changes placed institutional holdings at 372,842,127 shares, according to the latest SEC report filing. MMM stock had 125 new institutional investments in for a total of 2,111,912 shares, while 186 institutional investors sold positions of 3,140,992 shares during the same period.


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