3M Company’s (MMM - Free Report) business arm — 3M Food Safety — recently secured a contract from the U.S. Department of Agriculture Food Safety and Inspection Service (USDA FSIS) for an undisclosed amount. Per the deal, 3M’s state-of-the-art pathogen detection kits and instruments will be used by the USDA.
Henceforth, the company’s 3M Molecular Detection System will be primarily used for detecting E. coli O157, Listeria monocytogenes, Salmonella — the three main pathogenic organisms affecting the safety of poultry, meat and egg-related products.
A number of food producers across the globe recognize 3M Molecular Detection System as a highly efficient and accurate detection tool. This system has been consistently validated by popular scientific validation organizations across the globe for a variety of sample types.
The system combines unique technologies — bioluminescence detection and isothermal DNA amplification — which easily outpace the limitations of conventional Polymerase Chain Reaction pathogen testing methods.
3M currently carries a Zacks Rank #3 (Hold).
On a quarter-to-date basis, shares of the company have rallied 1.9%, outperforming 1% growth recorded by the industry.
The company is poised to grow on the back of strategic restructuring moves, ongoing portfolio-solidification initiatives and efficient enterprise resource planning system. However, input price inflation and higher freight charges might continue to escalate the company’s aggregate costs, in turn, dampening its profitability in the quarters ahead.
Stocks to Consider
Some better-ranked stocks in the same space are listed below:
Hitachi Ltd. (HTHIY - Free Report) sports a Zacks Rank #1 (Strong Buy). The company’s earnings per share (EPS) are predicted to grow 13% in the next three to five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
Raven Industries, Inc. also flaunts a Zacks Rank of 1. The company’s EPS is estimated to be up 10% over the next three to five years.
Sumitomo Corp. (SSUMY - Free Report) is another Zacks #1 Ranked company. The company’s EPS is projected to rise 5.50% during the same time frame.
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Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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3M Company’s (MMM - Free Report) business arm — 3M Food Safety — recently secured a contract from the U.S. Department of Agriculture Food Safety and Inspection Service (USDA FSIS) for an undisclosed amount. Per the deal, 3M’s state-of-the-art pathogen detection kits and instruments will be used by the USDA.
Henceforth, the company’s 3M Molecular Detection System will be primarily used for detecting E. coli O157, Listeria monocytogenes, Salmonella — the three main pathogenic organisms affecting the safety of poultry, meat and egg-related products.
A number of food producers across the globe recognize 3M Molecular Detection System as a highly efficient and accurate detection tool. This system has been consistently validated by popular scientific validation organizations across the globe for a variety of sample types.
The system combines unique technologies — bioluminescence detection and isothermal DNA amplification — which easily outpace the limitations of conventional Polymerase Chain Reaction pathogen testing methods.
3M currently carries a Zacks Rank #3 (Hold).
On a quarter-to-date basis, shares of the company have rallied 1.9%, outperforming 1% growth recorded by the industry.
The company is poised to grow on the back of strategic restructuring moves, ongoing portfolio-solidification initiatives and efficient enterprise resource planning system. However, input price inflation and higher freight charges might continue to escalate the company’s aggregate costs, in turn, dampening its profitability in the quarters ahead.
Stocks to Consider
Some better-ranked stocks in the same space are listed below:
Hitachi Ltd. (HTHIY - Free Report) sports a Zacks Rank #1 (Strong Buy). The company’s earnings per share (EPS) are predicted to grow 13% in the next three to five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
Raven Industries, Inc. also flaunts a Zacks Rank of 1. The company’s EPS is estimated to be up 10% over the next three to five years.
Sumitomo Corp. (SSUMY - Free Report) is another Zacks #1 Ranked company. The company’s EPS is projected to rise 5.50% during the same time frame.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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