Solventum Co. (NYSE:SOLV) Receives $65.75 Average PT from Analysts

Solventum Co. (NYSE:SOLV) has been given a consensus rating of “Reduce” by the six brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $63.25.

A number of research firms have recently weighed in on SOLV. Edward Jones began coverage on Solventum in a research report on Tuesday, April 2nd. They set a “hold” rating on the stock. Argus assumed coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” rating on the stock. Morgan Stanley assumed coverage on shares of Solventum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $70.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Solventum in a research note on Thursday, May 30th. They set a “sell” rating and a $54.00 target price on the stock. Finally, Bank of America decreased their price target on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD purchased a new stake in shares of Solventum in the first quarter worth about $5,889,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Solventum during the 1st quarter worth approximately $5,747,000. Magnetar Financial LLC bought a new position in shares of Solventum during the 1st quarter valued at approximately $3,478,000. Alpine Global Management LLC bought a new position in shares of Solventum during the 1st quarter valued at approximately $1,766,000. Finally, Fifth Lane Capital LP purchased a new position in shares of Solventum in the first quarter valued at $826,000.

Solventum Stock Up 3.0 %

Shares of SOLV stock opened at $52.88 on Monday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.81 and a quick ratio of 1.33. Solventum has a 12 month low of $50.49 and a 12 month high of $96.05. The firm’s 50 day simple moving average is $59.35.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, May 9th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.41. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, research analysts expect that Solventum will post 6.23 earnings per share for the current fiscal year.

Solventum Company Profile

Solventum Corporation, a healthcare company, engages in the developing, manufacturing, and commercializing a portfolio of solutions to address critical customer and patient needs. It operates through four segments: Medsurg, Dental Solutions, Health Information Systems, and Purification and Filtration.