Solventum (NYSE:SOLV) Raised to Overweight at Piper Sandler

Piper Sandler upgraded shares of Solventum (NYSE:SOLV) from a neutral rating to an overweight rating in a research note published on Monday morning, MarketBeat Ratings reports. The firm currently has $87.00 price target on the stock, up from their previous price target of $78.00.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America increased 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, February 26th. Mizuho increased their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Morgan Stanley increased their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. The Goldman Sachs Group increased their price objective on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $80.29.

Solventum Trading Down 2.5%

Shares of SOLV stock opened at $72.84 on Monday. The stock has a market cap of $12.60 billion and a price-to-earnings ratio of 33.72. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The firm has a fifty day moving average of $69.85 and a 200-day moving average of $71.32. Solventum has a 52-week low of $47.16 and a 52-week high of $85.92.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 EPS. On average, equities research analysts forecast that Solventum will post 6.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Rossby Financial LCC bought a new position in shares of Solventum in the 1st quarter valued at about $25,000. Strengthening Families & Communities LLC boosted its stake in shares of Solventum by 376.8% in the 1st quarter. Strengthening Families & Communities LLC now owns 329 shares of the company’s stock valued at $25,000 after purchasing an additional 260 shares during the last quarter. Clarity Asset Management Inc. bought a new position in shares of Solventum in the 4th quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new position in shares of Solventum in the 4th quarter valued at about $26,000. Finally, Raiffeisen Bank International AG bought a new position in shares of Solventum in the 4th quarter valued at about $29,000.

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.