3M Company’s (MMM) Skin and Wound Care launched a new dressing solution called 3M™ Tegaderm™ Diamond Pattern Film Dressing. This is an adaptable solution with transparent, breathable film, preferred frame delivery system and new, Comfort Adhesive Technology.
Together with the accepted features of Tegaderm™ Transparent Film Dressings, the new dressing has a novel adhesive technology, which enhances moisture management performance thus providing longer use of dressing. Health care facilities will save costs with the help of the new dressing solution.
The United States market as well as a few other international markets will receive the Tegaderm™ Diamond Dressings by the end of the current month.
Strong cash flow position and continuously expanding sales revenue provides 3M ample resources to expand through acquisition and innovation of new products. 3M is known worldwide for its innovations, together with some of its well-known brands such as Nexcare, Post-it, Scotch, Scotch-Brite, and Scotchgard being the market leaders. We believe that continued capital expenditure with new product launches should bolster its prospects across most end markets.
However, the company’s growth objectives are largely dependent on timing and market acceptances of its new product offerings, including its ability to continually renew its pipeline of new offerings and bring those to the market at acceptable price points. Further, the results have been impacted by worldwide economic and capital market conditions.
Negative consumer sentiment is affecting the retail store traffic. On the corporate side, lower employment levels are negatively reducing office supply purchases in most companies.
3M Company together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 60 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 Business. Major competitors of 3M are Avery Dennison Corporation (AVY), EI DuPont de Nemours & Co. (DD) and Johnson & Johnson (JNJ).
We continue to maintain a Neutral rating on 3M Company for the long term. The company has a Zacks #3 Rank (Hold recommendation) over the next one-to-three months.
AVERY DENNISON (AVY): Free Stock Analysis Report
DU PONT (EI) DE (DD): Free Stock Analysis Report
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