3M Company (MMM) Shares Dip Despite Product Launch - Analyst Blog

By Zacks Equity Research,

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3M Digital Oral Care, a part  of 3M Company ( MMM ), recently introduced a new version of its True Definition Scanner that supports faster and easier scanning with superior accuracy for dentists and orthodontists. However, the announcement of the new product launch seemed to fail to cheer investors' sentiment and the share price dropped marginally on Aug 1.

The 3M True Definition Scanner is well suited for most challenging situations. The scanner is capable of scanning a diagnostic arch in just 60 seconds and its new design enhances access to the posterior anatomy of the patient. The quick scan makes it more comfortable for dentists and patients and offers better clinical care.

The outstanding accuracy leads to reduced seating times with a fit rate of 99.7%. The product strengthens 3M's efforts in bringing about digital transformation in oral care. The smallest wand in the market is likely to improve the overall experience of the user.

3M remains focused on inventing new products and maintaining its competitive advantage worldwide. The rise in demand for such innovative 3M product services is likely to augment its overall revenue.

3M, together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 70 countries worldwide. It has more than 35 business units organized into six segments: Consumer and Office, Display and Graphics, Electro and Communications, Healthcare, Industrial and Transportation, Safety, Security and Protection Services.

3M currently has a Zacks Rank #3 (Buy). Other stocks that look promising and are worth a look are Macquarie Infrastructure Company LLC ( MIC ), Noble Group Ltd. ( NOBGY ) carrying a Zacks Rank #1 (Strong Buy) and Federal Signal Corp ( FSS ), carrying a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Stocks
Referenced Stocks: MMM , FSS , MIC , NOBGY

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