Solventum Corp (SOLV)

She sold it, not because she's negative the stock, but this company spun off and dropped its dividend, and she was holding SOLV for clients in a dividend fund. Their recent reports have actually been good with decent earnings and a decent valuation.

3m completed spinning off healthcare company Solventum today. MMM shares have been challenged by many lawsuits, including over its hearing aids, and some of its businesses have slowed. An exception is Solventum, positing positive organic growth over the past decade. Revenues were $8.2 billion in 2023, but guidance said that 2024 will be a rebuilding year. That said, it's now selling at 11x this year's earnings, cheap. Keep in mind that most spun-offs start off shaky, with those getting initial shares not wanting them. So, buy Solventum gradually over the next 6 months. As for 3M, they paid dearly to settle their lawsuits, so the worst is behind them. Also, they're cutting costs like crazy. Also, Wall Street likes the change in CEOs.