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On November 16, 2023, 3M unveiled that the new company would be called Solventum, a portmanteau of the words "solving" and "momentum". [ 8 ] The spin-off was completed on April 1, 2024, with 3M retaining about 19.9% of Solventum.
The stock currently trades at 19.5 times the consensus 2025 earnings per share, representing a forward price-to-earnings ratio significantly above its 10-year average multiple of 17. This elevated ...
(Reuters) -Activist investor Nelson Peltz's Trian Fund Management has built a stake in 3M's healthcare spinoff Solventum, Bloomberg News reported on Monday, citing people with knowledge of the ...
3M disclosed plans to spin off its healthcare business into a listed company last year, in which the U.S. industrial giant would retain a 19.9% stake. The plan came amid litigations from military ...
The S&P 500 is a stock market index maintained by S&P Dow Jones Indices.It comprises 503 common stocks which are issued by 500 large-cap companies traded on the American stock exchanges (including the 30 companies that compose the Dow Jones Industrial Average).
[62] [63] The company will be known as Solventum Corporation. [64] In December 2022, the company announced plans to stop producing and using so-called forever chemicals (per and polyfluoroalkyl [65]), which have been commonly used in items such as food packaging, cellphones, nonstick pans, firefighting foams, and clothing. These chemicals are ...
Fourth quarter adjusted earnings per share was $1.68 on 2.1% organic revenue growth. The company generated free cash flow of $1.3 billion with conversion of 145%.
The Russell 1000 Index is a U.S. stock market index that tracks the highest-ranking 1,000 stocks in the Russell 3000 Index, which represent about 93% of the total market capitalization of that index.