Does 3M Have Enough Cards Left To Play?
Stephen Simpson, CFA
Stephen Simpson, CFA
Thu, Dec. 8, 10:40 PM
- 3M (NYSE:MMM) agrees to sell its identity management business in its traffic safety and securiyt division to Amsterdam-based digital security company Gemalto (OTCPK:GTOFF) for $850M.
- The sale includes 3M Cogent, which provides a full spectrum of biometric solutions with a focus in law enforcement, border control and civil identification.
- 3M says the unit has annual global sales of ~$215M.
Wed, Dec. 7, 10:20 AM
- 3M (MMM +0.3%) is marginally higher on the heels of an upgrade to Sector Perform from Underperform at RBC Capital Markets due to a recent drop in the stock making its risk/reward profile more balanced.
- The firm says health care exposure could hurt 3M due to possible new Trump initiatives, but it's raising its price target on shares to $171 from $155.
Wed, Dec. 7, 7:51 AM| Wed, Dec. 7, 7:51 AM
Mon, Nov. 21, 8:37 AM
- Undifferentiated organic growth driven by Electronics and Energy weakness and margin headwinds will result in 3M (NYSE:MMM) share underperformance, according to Goldman Sachs.
- As a result, the firm downgraded the stock to Sell from Neutral and lowered its price target to $159 from $167.
- MMM -1.2% premarket
Tue, Nov. 8, 5:16 PM
Thu, Oct. 27, 5:07 PM
- Griffin Capital Essential Asset REIT II has acquired 3M's (NYSE:MMM) DeKalb, Illinois distribution facility for $69.4M from Park 88 Group LLC.
- It's a 978K sq ft distribution warehouse situated on a 49.71-acre site that was leased to 3M in August 2016 for 122 months.
- "We are excited to acquire a new, state-of-the-art, Class-A logistics facility that serves as a primary distribution center for 3M. Our acquisition of this property reinforces our REIT's focus on driving shareholder value by investing in income-generating properties leased to well-established corporate tenants on a long term basis," said Shawn Carstens, VP Acquisitions.
Tue, Oct. 25, 7:52 AM
- Net income of $1.33B, or $2.15 per diluted share, vs. $1.3B, or $2.05 per diluted share, a year ago.
- Revenue by segment: Industrial +1%; Electronics and Energy -7.5%; Safety and Graphics +2.2%; Health Care +1.2%; Consumer +4%.
- Returned $1.4B to shareholders via dividends and share repurchases.
- The company lowered its expected EPS range for 2016 to $8.15-$8.20 (from $8.15-$8.30) and now expects organic local-currency sales growth to be approximately flat versus a previous range of 0-1%.
- MMM -1.6% premarket
- Q3 results
Tue, Oct. 25, 7:30 AM
Mon, Oct. 24, 6:58 PM
- 3M (NYSE:MMM) is upgraded to Overweight from Equal Weight and a $194 price target at Barclays, part of the firm's more optimistic outlook in the U.S. multi-industry sector that prompts several stock upgrades.
- Now is an attractive entry point for the overall group, Barclays believes, based on a view that the negative earnings revision cycle is nearing an end, greater visibility on key end-markets - particularly non-residential construction and general capital spending - and a recovery in emerging markets; $50-plus oil and potential M&A activity helps too, the firm says.
- Barclays says 3M is the largest emerging market exposed name it covers (at 35% of sales), and it believes an emerging market recovery is taking place, particularly in places where 3M has been hit hard, notably Brazil; also, the recent rally in emerging market currencies will help 3M in an outsized manner.
- In addition to 3M, Barclays upgrades WABCO Holdings (NYSE:WBC), ITT Industries (NYSE:ITT), Rexnord (NYSE:RXN) and Rockwell Automation (NYSE:ROK) to Overweight from Equal Weight; however, the firm downgrades Actuant (NYSE:ATU) and Terex (NYSE:TEX) to Underweight from Equal Weight.
Mon, Oct. 24, 5:30 PM
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Tue, Oct. 11, 10:24 AM
- Alphabet's (GOOG, GOOGL) Verily Life Sciences and 3M (MMM -0.7%) are targeting clinical and financial performance management technology intended to analyze data and provide insightful information revolving around healthcare quality and costs.
- Alphabet: "We have the data analytics and software to understand trends and make predictions across large quantities of data, and we see a clear opportunity to apply this approach to health data for insights that can impact care. Together, with 3M's know-how and deep expertise in parsing and coding clinical data, we imagine a world where providers have precise information to guide focused improvement, and can consistently access objective, actionable feedback to make informed decisions.”
- 3M: "At 3M, we are constantly evaluating how health information technology can help improve the efficiency, quality and cost of delivering care. This collaboration reflects our commitment to continued innovation in health information systems that address real-world problems facing health care today, while protecting the privacy and security of health data.”
- IBM (IBM -0.9%) and Siemens (OTCPK:SIEGY), through a five year arrangement, are looking to aid hospitals, health systems, integrated delivery networks and other providers in bringing value-based care to patients with complex, chronic and expensive conditions.
- IBM: "We are at an unprecedented time in healthcare. Mature and developing markets are increasingly focused on how patient outcomes are optimized, quality is standardized among individuals and across populations, and costs are reduced. Siemens and IBM are ideal partners to work at the forefront of this evolution and enable personalized healthcare in the U.S. and globally."
- Siemens: "Combining our strengths, Siemens Healthineers and IBM can effectively help providers transition to a value-based healthcare environment. We will bring the power of Siemens Healthineers' extensive relationships with providers and our deep domain expertise in clinical workflows, services, and digital health technologies to bear to help bring population health management offerings to healthcare providers. The new alliance fits perfectly into the services business of Siemens Healthineers. Thus we will enter the rapidly growing PHM market which is expected to play a significant role in end-to-end value-based healthcare."
- Alphabet, 3M
- IBM, Siemens
- Last week: Alphabet's Verily Life Sciences adopts automated lab strategies in Zika-prevention effort
Tue, Aug. 23, 4:52 AM
- The CFA Society of Minnesota hosts an under-the-radar conference today and tomorrow with a powerful roster of presenting companies.
- The event was moved to later in the month this year in a development which pushes many of the companies past the quiet period imposed around their earnings releases.
- Notable names in attendance will include Target (NYSE:TGT), Delta Air Lines (NYSE:DAL), Stamps.com (NASDAQ:STMP), General Mills (NYSE:GIS), Piper Jaffray (NYSE:PJC), Spectrum Brands (NYSE:SPB), 3M (NYSE:MMM), and AstraZeneca (NYSE:AZN).
Wed, Aug. 10, 5:50 AM
Tue, Jul. 26, 9:04 AM
- Net income of $1.29B, or $2.08 per diluted share, vs. $1.3B, or $2.02 per diluted share, a year ago.
- Revenue by segment: Industrial -0.1%; Electronics and Energy -10%; Safety and Graphics +4.7%; Health Care +3%; Consumer +1.7%.
- Returned $1.5B to shareholders via dividends and share repurchases.
- The company narrowed its expected EPS range for 2016 to $8.15-$8.30 (vs. $8.10-$8.45 previously) and lowered its organic local-currency sales growth guidance to 0-1% (vs. 1-3%)
- MMM -1.2% premarket
- Q2 results
Tue, Jul. 26, 7:31 AM
Mon, Jul. 25, 5:30 PM
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