Solventum (NYSE:SOLV) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Solventum (NYSE:SOLV) had its price objective boosted by equities researchers at Wells Fargo & Company from $73.00 to $75.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 5.73% from the stock’s current price.

A number of other analysts have also issued reports on SOLV. Morgan Stanley raised their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Mizuho assumed coverage on shares of Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price on the stock. Piper Sandler raised their target price on shares of Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Bank of America raised their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Solventum currently has a consensus rating of “Hold” and an average price target of $74.71.

Solventum Stock Down 4.7 %

SOLV stock opened at $79.56 on Friday. The company’s 50 day simple moving average is $72.51 and its 200-day simple moving average is $69.96. The firm has a market capitalization of $13.74 billion and a PE ratio of 28.93. 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 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Hedge Funds Weigh In On Solventum

A number of hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Solventum in the 4th quarter valued at $3,472,000. GF Fund Management CO. LTD. acquired a new position in shares of Solventum in the 4th quarter valued at $229,000. JT Stratford LLC boosted its holdings in shares of Solventum by 17.5% in the 4th quarter. JT Stratford LLC now owns 26,692 shares of the company’s stock valued at $1,763,000 after purchasing an additional 3,967 shares during the last quarter. Ananym Capital Management LP acquired a new position in shares of Solventum in the 4th quarter valued at $17,620,000. Finally, Poehling Capital Management INC. boosted its holdings in shares of Solventum by 271.2% in the 4th quarter. Poehling Capital Management INC. now owns 30,551 shares of the company’s stock valued at $2,018,000 after purchasing an additional 22,321 shares during the last quarter.

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.