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3M Declares $1.50 Per Share Dividend For Q4 2023 – $MMM $DIA $SPY $MODD

By John F. Heerdink, Jr.

As per reports, the Board of Directors at 3M (MMM) announced a dividend of $1.50 per share on the company’s common stock for the fourth quarter of 2023. Shareholders of record as of November 17, 2023, will receive the dividend on December 12, 2023. 3M has maintained an unbroken record of paying dividends to its shareholders for over a century.

3M (MMM) is a global science company that seems to never stop inventing. Using 46 technology platforms, their integrated team of scientists and researchers works with customers to create breakthroughs. Their inventions have improved daily life for hundreds of millions of people all over the world. With $30 billion in sales, 90,000 employees connect with customers all around the world. Scientists, researchers, and marketers work across countries and across subjects to solve challenges big and small. To learn more about 3M (MMM) and to track its ongoing progress please visit the  Vista Partners 3M (MMM), Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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An Unmet Need in Diabetes Care

  • While Insulin Pumps Improve Glycemic Control,1-4 2 in 3 People with Type 1 Diabetes Still Manually Inject Insulin…
  • Tens of thousands of people suffer annually from the complications of diabetes, such as cardiovascular events, neuropathy, dementia, kidney disease, blindness and lower limb amputation – frequent consequences of poorly managed glycemic control.
  • There are 1.9 million individuals with Type 1 Diabetes in the US. 100% of patient population require daily insulin injection. Only 1 out of 3 currently use an insulin pump.
  • 32% of population utilizes insulin pumps for diabetes management
  • 68% of the population rely on multiple daily injections for diabetes management.
  • Almost Pumpers are 30% of the market. They would choose an insulin pump if it were less expensive, took less time to learn and use, and posed a low technological hurdle. This is believed to be a $1.9B market opportunity.

Modular Medical, Inc. (NASDAQ:MODD, is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Their mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.” Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.

On Oct. 31, Modular Medical provided an update on its ongoing pre-submission testing and timeline for submission of its MODD-1 insulin pump (the “MODD-1”) to the U.S. Food and Drug Administration (“FDA”). The Company has made substantial progress on completing many of the tests required for submission and now has results back from some of the longest lead time tests, including insulin stability and potency. Modular Medical believes the test results received from multiple third-party laboratory tests are sufficient for submission of the MODD1 to the FDA for clearance, subject to the completion of other ongoing tests and reports. Jeb Besser, CEO of Modular Medical, commented, “The Modular Medical team has continued to make rapid progress towards our 510(k) submission to the FDA, since the completion of our pilot manufacturing line in August. While there is still additional testing to be done, we are starting to gain better visibility on our submission timeline, and we currently expect to make our FDA submission around year end 2023. We remain excited about our opportunity to bring access to better insulin delivery to underserved segments of the market.”

(Read Original Story: 3M Board Declares Quarterly Dividend in PR Newswire)


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