3M's Healthcare Spinoff Is Set for April 1. Should You Buy the New Stock?
Healthcare investors will soon get a new stock they can invest in. 3M (NYSE: MMM) is in the midst of spinning off its healthcare business, and the stock is set to go public on April 1. Called Solventum, it will trade on the New York stock Exchange under the ticker symbol SOLV.
The healthcare business is one of this big conglomerate's faster-growing segments, and it could present an enticing option for investors next month. Is the new stock one that you should consider adding to your portfolio?
Solventum's name comes from two words: "solving" and "momentum." It's supposed to emphasize the company's goal of continuing to innovate and come up with new and improved products. Medical devices will play a key part in its future growth, but Solventum will also give investors a way to benefit from expanding in other markets, including oral care and health information systems, making it a more diversified investment option than other healthcare stocks.
Source Fool.com
