Solventum – a healthcare unit that 3M Co (NYSE: MMM) spun off in March will begin trading on the New York Stock Exchange today. Ahead of it, $MMM is down 15% in premarket.What does it mean for 3M shareholders? Copy link to section Those invested in 3M are slated to secure a position in Solventum as well on Monday. For every four shares of $MMM, they’ll get one share of Solventum. But experts seem a bit dovish on the spinoff. Brett Linzey of Mizuho, for example, reiterated his “neutral” rating on 3M stock la ...

ST. PAUL, Minn., April 1, 2024 /PRNewswire/ -- Today, 3M completed the planned spin-off of its health care business, which formally launches Solventum Corporation as an independent company. Solventum is listed on the New York Stock Exchange as SOLV. "This is an important day for 3M and Solventum, and I extend my sincere congratulations to members of both teams who have made this possible," said Mike Roman, 3M chairman and chief executive officer. "Both companies are positioned to pursue their respective gro ...

josefkubesThe last time I have covered 3M Company (NYSE:MMM) was back in November 2023, recommending investors to initiate long position in this global industrial conglomerate as the company was trading at a very cheap valuation and at the beginning of its long-awaited turnaround. Since that time the stock has delivered a total return on 9% which is pretty attractive in my view. It's no secret that 2023 has been a challenging year for most industrial companies as the PMI has signaled contraction in the ...

Industrial giant 3M (MMM -1.01%) had a remarkable run on Wall Street last week, with its stock soaring by a double-digit percentage thanks to a wave of positive news. This surge in stock value, coupled with the stock's undervaluation, a near 5.8% dividend yield, and its potential as a turnaround play following a pending management restructuring and the spinoff of its healthcare business, Solventum, all point to a promising investment opportunity. Could this be the right time to consider buying 3M stock?3M's ...

Investors are eagerly awaiting the upcoming launch of 3M’s (NYSE:MMM) healthcare spinoff, Solventum. What does it mean for 3M stock?Well, investors aren’t quite so sure. Some believe it may be worth buying up 3M shares ahead of the Solventum launch, arguing the spinoff may prove bullish for its parent company. Others think it may be prudent to wait for the spinoff on April 1 — and any corresponding carnage to 3M stock — before buying into the industrial company. As it stands, if you want to get into Solvent ...

Investors of 3M (NYSE:MMM) stock are abuzz ahead of its healthcare-centric spinoff hitting the markets on April 1. Indeed, the manufacturing giant is just weeks away from completing the public launch of its healthcare business, Solventum. It has been a quick turnaround for 3M, which only approved the new spinoff earlier this March. Solventum is set to trade on the New York Stock Exchange under the SOLV stock ticker on April 1. Interestingly, current MMM stock shareholders will get a distribution of one shar ...

3M Company (MMM) is benefiting from strength in advanced materials, commercial solutions and auto original equipment manufacturer (OEM) businesses.  Also, solid momentum in the auto OEM business driven by an increase in global car and light truck bills are driving the company’s Transportation and Electronics segment. The segment’s revenues grew 4.5% in the fourth quarter of 2023.Backed by strength across its businesses, management recently raised its earnings guidance for the first quarter of 2024. 3M curre ...

A week after raising a price target by $1 to $111, a Barclays analyst did it again, raising 3M's (MMM 0.02%) price target to $126 and slapping an "overweight" (buy) rating on the stock. That implies a 20% jump in the stock price over the next 12 months or so.The move comes after some relatively positive news recently from 3M, which may have affected the analyst's thinking.3M is improvingPlenty has gone wrong for 3M in recent years, but the Barclays upgrade sees improvement underway. 3M was hit with a combin ...

Healthcare investors will soon get a new stock they can invest in. 3M (MMM 0.48%) is in the midst of spinning off its healthcare business, and the stock is set to go public on April 1. Called Solventum, it will trade on the New York Stock Exchange under the ticker symbol SOLV. The healthcare business is one of this big conglomerate's faster-growing segments, and it could present an enticing option for investors next month. Is the new stock one that you should consider adding to your portfolio?Solventum's ke ...

- Leadership to highlight opportunity to unlock significant value creation over time - - Solventum to introduce full-year 2024 guidance - ST. PAUL, Minn., March 19, 2024 /PRNewswire/ -- Solventum will host its inaugural Investor Day today in New York City ahead of its planned spinoff from 3M (NYSE: MMM). The Company is anticipated to spin off from 3M on April 1, 2024, and has been approved for listing on the New York Stock Exchange as "SOLV." During today's event, Solventum chief executive officer Bryan Han ...