12 Best Nanotechnology Stocks to Buy According to Hedge Funds

3. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 82

3M Company (NYSE:MMM), a renowned American multinational conglomerate, operates across diverse industries, including adhesives, abrasives, ceramics, and nanotechnology. Among its notable innovations is a lightweight carbon monoxide filtration system, leveraging nanotechnology to improve air quality through advanced respiratory systems.

On December 26, CFRA upgraded the MMM stock from Buy to Strong Buy, setting a price target of $165. Analyst Jonathan Sakraida highlighted the company’s strategic portfolio review, which aims to divest non-core assets and focus on high-growth sectors. He also noted that ongoing restructuring efforts are expected to enhance 3M’s margins and strengthen its financial position, providing a positive outlook for the company.

In Q3 2024, 3M Company (NYSE:MMM) reported solid financial results, with $6.07 billion in revenue, a 1% year-over-year increase that surpassed analyst expectations by $10.66 million. The company demonstrated strong operational performance, achieving double-digit growth in adjusted earnings and robust free cash flow generation, further reinforcing its financial resilience.