Solventum (NYSE:SOLV) Earns Peer Perform Rating from Analysts at Wolfe Research

Wolfe Research started coverage on shares of Solventum (NYSE:SOLV) in a report issued on Thursday, Marketbeat.com reports. The brokerage issued a peer perform rating on the stock.

A number of other analysts have also weighed in on SOLV. Wells Fargo & Company cut their target price on shares of Solventum from $69.00 to $64.00 and set an equal weight rating on the stock in a research report on Friday, August 9th. BTIG Research began coverage on Solventum in a report on Thursday, September 5th. They set a neutral rating on the stock. Bank of America lowered their target price on Solventum from $70.00 to $60.00 and set a neutral rating for the company in a report on Tuesday, June 25th. Argus assumed coverage on Solventum in a report on Monday, June 24th. They set a hold rating on the stock. Finally, The Goldman Sachs Group upped their price objective on Solventum from $48.00 to $54.00 and gave the company a sell rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, Solventum has an average rating of Hold and an average price target of $58.25.

Solventum Stock Performance

Shares of SOLV opened at $67.57 on Thursday. The company’s 50 day moving average price is $62.70. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. Solventum has a one year low of $47.16 and a one year high of $96.05.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Solventum’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts expect that Solventum will post 6.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Solventum

Institutional investors have recently made changes to their positions in the stock. Clifford Capital Partners LLC acquired a new position in shares of Solventum in the second quarter worth approximately $12,054,000. Prio Wealth Limited Partnership acquired a new position in shares of Solventum in the 2nd quarter worth approximately $457,000. Sanctuary Advisors LLC bought a new stake in shares of Solventum in the 2nd quarter valued at $516,000. NCP Inc. acquired a new stake in shares of Solventum during the second quarter worth $35,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Solventum during the second quarter worth $597,000.

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.