Solventum (NYSE:SOLV) Now Covered by Analysts at Piper Sandler

Piper Sandler started coverage on shares of Solventum (NYSE:SOLV) in a research report report published on Monday morning, MarketBeat reports. The firm issued a neutral rating and a $71.00 target price on the stock.

Several other analysts have also recently weighed in on SOLV. Bank of America cut their price target on shares of Solventum from $70.00 to $60.00 and set a neutral rating on the stock in a report on Tuesday, June 25th. Morgan Stanley dropped their price target on shares of Solventum from $70.00 to $55.00 and set an equal weight rating on the stock in a research note on Monday, July 15th. 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. Wolfe Research initiated coverage on shares of Solventum in a research report on Thursday, September 26th. They set a peer perform rating for the company. Finally, The Goldman Sachs Group upped their price target on shares of Solventum from $48.00 to $54.00 and gave the company a sell rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $64.33.

Solventum Stock Performance

SOLV stock opened at $68.10 on Monday. Solventum has a 12 month low of $47.16 and a 12 month high of $96.05. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The company has a 50 day moving average price of $64.36.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new stake in Solventum during the 1st quarter valued at $5,889,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum in the first quarter valued at about $5,747,000. CWM LLC purchased a new stake in shares of Solventum during the second quarter worth about $473,000. Great Valley Advisor Group Inc. purchased a new stake in shares of Solventum during the second quarter worth about $493,000. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Solventum during the second quarter worth about $58,000.

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.