3M’s (NYSE:MMM) healthcare revenue rose from $7.8 billion in 2020 to $8.5 billion in 2021. Trefis expects the metric to grow to over $9.5 billion by 2023.
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We expect growth to be driven by stronger demand for the company’s food safety, medical solutions, oral care solutions, separation, and purification products.
We think 3M stock is undervalued at current levels. We value MMM at $185 per share, 25% ahead of the current market price.
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 Month-to-date and year-to-date as of 3/24/2022
 Cumulative total returns since the end of 2016
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