Brokerages Set Solventum Co. (NYSE:SOLV) Price Target at $79.00

Solventum Co. (NYSE:SOLV) has been given a consensus recommendation of “Hold” by the ten analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $80.29.

SOLV has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Morgan Stanley upped their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. Piper Sandler raised shares of Solventum from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $87.00 in a research note on Monday. Bank of America boosted their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group increased their price objective on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd.

Solventum Price Performance

NYSE:SOLV opened at $72.84 on Thursday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The company has a 50 day moving average price of $69.85 and a 200-day moving average price of $71.32. Solventum has a 1-year low of $47.16 and a 1-year high of $85.92. The firm has a market cap of $12.60 billion and a price-to-earnings ratio of 33.72.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 EPS. Equities research analysts forecast that Solventum will post 6.58 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Solventum by 3.0% during the third quarter. Principal Financial Group Inc. now owns 169,615 shares of the company’s stock worth $11,826,000 after buying an additional 4,896 shares in the last quarter. Czech National Bank grew its stake in Solventum by 6.5% during the 4th quarter. Czech National Bank now owns 29,966 shares of the company’s stock valued at $1,980,000 after acquiring an additional 1,820 shares in the last quarter. Oak Thistle LLC acquired a new stake in Solventum in the 4th quarter valued at about $512,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Solventum by 69.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 891 shares of the company’s stock valued at $59,000 after acquiring an additional 366 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in Solventum by 7.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 75,283 shares of the company’s stock worth $4,973,000 after purchasing an additional 5,094 shares in the last quarter.

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.