Brokerages Set Solventum Co. (NYSE:SOLV) Target Price at $64.33

Shares of Solventum Co. (NYSE:SOLV) have been given an average rating of “Hold” by the ten ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $64.33.

A number of equities analysts recently weighed in on the company. Wells Fargo & Company reduced their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Stifel Nicolaus started coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Piper Sandler started coverage on shares of Solventum in a research report on Monday, October 7th. They set a “neutral” rating and a $71.00 price objective for the company. Finally, BTIG Research initiated coverage on shares of Solventum in a research note on Thursday, September 5th. They set a “neutral” rating for the company.

Hedge Funds Weigh In On Solventum

Several hedge funds and other institutional investors have recently modified their holdings of SOLV. Davis Selected Advisers purchased a new position in Solventum in the 2nd quarter worth approximately $273,070,000. Nuance Investments LLC purchased a new position in Solventum during the second quarter worth approximately $115,829,000. Newport Trust Company LLC purchased a new position in Solventum during the second quarter worth approximately $98,976,000. Baupost Group LLC MA acquired a new position in Solventum during the second quarter worth $96,242,000. Finally, Magnetar Financial LLC grew its holdings in Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares in the last quarter.

Solventum Trading Down 0.2 %

NYSE SOLV opened at $72.46 on Friday. Solventum has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The stock has a 50-day simple moving average of $68.90 and a two-hundred day simple moving average of $61.64.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Solventum will post 6.38 earnings per share for the current year.

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.