3M (MMM)

• Market cap: $70.4B
• 1 day: 1.69%
• 5 days: -0.48%
• 1 month: 1.13%
• 3 months: -4.07%
• 6 months: 27.17%
• Year to date: 40.57%
• 1 year: 49.15%
• 5 years: -11.83%
• 10 years: -7.56%
• Sector: Healthcare
• Industry: Surgical & Medical Instruments & Apparatus

About: 3M, a multinational conglomerate founded in 1902, sells tens of thousands of products ranging from sponges to respirators. The firm is well known for its extensive research and development capabilities, and it is a pioneer in inventing new use cases for its proprietary technologies. 3M is organized across three business segments: safety and industrial (representing around 44% of revenue), transportation and electronics (36%), and consumer (20%). The firm recently spun off its healthcare business, now known as Solventum. Nearly half of 3M's revenue comes from outside the Americas.

Employees: 85,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

99% more first-time investments, than exits

New positions opened: 267 | Existing positions closed: 134

41% more call options, than puts

Call options by funds: $1.8B | Put options by funds: $1.28B

30% more capital invested

Capital invested by funds: $37.9B [Q2] → $49.4B (+$11.5B) [Q3]

29% more funds holding in top 10

Funds holding in top 10: 21 [Q2] → 27 (+6) [Q3]

7% more funds holding

Funds holding: 1,910 [Q2] → 2,043 (+133) [Q3]

0.99% less ownership

Funds ownership: 66.47% [Q2] → 65.47% (-0.99%) [Q3]

30% less repeat investments, than reductions

Existing positions increased: 603 | Existing positions reduced: 858

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $100 23% downside
• Avg. target: $155 20% upside
• High target: $184 42% upside

8 analyst ratings

• positive: 5 63%
• neutral: 2 25%
• negative: 1 13%

UBS Damian Karas 64% 1-year accuracy 9 / 14 met price target	42% upside $184	Buy Upgraded	13 Nov 2024
JP Morgan Stephen Tusa 54% 1-year accuracy 13 / 24 met price target	28% upside $165	Overweight Maintained	28 Oct 2024
RBC Capital Deane Dray 54% 1-year accuracy 35 / 65 met price target	23% downside $100	Underperform Maintained	23 Oct 2024
B of A Securities Andrew Obin 80% 1-year accuracy 20 / 25 met price target	24% upside $160	Buy Maintained	23 Oct 2024
Barclays Julian Mitchell 61% 1-year accuracy 62 / 101 met price target	28% upside $165	Overweight Maintained	23 Oct 2024