Solventum Co. (NYSE:SOLV) Receives $58.25 Average Price Target from Analysts

Solventum Co. (NYSE:SOLV) has earned a consensus rating of “Reduce” from the six research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $58.25.

Several equities research analysts have issued reports on the stock. Bank of America decreased their price objective on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Morgan Stanley lowered their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Argus began coverage on Solventum in a research report on Monday, June 24th. They issued a “hold” rating on the stock. Wells Fargo & Company decreased their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Finally, The Goldman Sachs Group raised their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th.

Solventum Trading Up 0.1 %

Shares of Solventum stock opened at $59.44 on Tuesday. The firm has a fifty day moving average price of $54.42. Solventum has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts predict that Solventum will post 6.4 earnings per share for the current fiscal year.

Institutional Trading of Solventum

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC purchased a new stake in Solventum during the 1st quarter worth approximately $30,000. Hollencrest Capital Management bought a new position in Solventum during the 2nd quarter valued at $25,000. Deseret Mutual Benefit Administrators bought a new position in Solventum during the 2nd quarter valued at $25,000. Richard W. Paul & Associates LLC acquired a new position in Solventum during the 2nd quarter worth $26,000. Finally, Family Firm Inc. acquired a new stake in shares of Solventum in the 2nd quarter valued at about $26,000.

About Solventum

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.