Solventum (NYSE:SOLV) Sets New 52-Week High – Time to Buy?

Shares of Solventum Corporation (NYSE:SOLV) hit a new 52-week high during trading on Tuesday . The stock traded as high as $85.94 and last traded at $86.1660, with a volume of 368489 shares trading hands. The stock had previously closed at $83.38.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Piper Sandler increased their price objective on shares of Solventum from $94.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Zacks Research raised shares of Solventum from a “hold” rating to a “strong-buy” rating in a report on Monday, September 15th. Jefferies Financial Group initiated coverage on Solventum in a research note on Thursday, September 11th. They issued a “hold” rating and a $80.00 target price for the company. Wells Fargo & Company boosted their target price on Solventum from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, September 15th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Solventum in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.56.

Solventum Trading Up 3.2%

The business has a 50 day moving average price of $72.89 and a 200-day moving average price of $73.30. The company has a market cap of $14.92 billion, a P/E ratio of 9.91, a PEG ratio of 8.75 and a beta of 0.49. The company has a current ratio of 1.50, a quick ratio of 1.14 and a debt-to-equity ratio of 1.03.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, November 6th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.07. Solventum had a return on equity of 28.01% and a net margin of 18.13%.The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the firm posted $1.64 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Solventum has set its FY 2025 guidance at 5.980-6.080 EPS. Analysts forecast that Solventum Corporation will post 6.58 earnings per share for the current fiscal year.

Solventum declared that its Board of Directors has approved a stock buyback program on Thursday, November 20th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Solventum

Several institutional investors and hedge funds have recently modified their holdings of SOLV. CIBC Private Wealth Group LLC increased its stake in Solventum by 0.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 24,710 shares of the company’s stock valued at $1,804,000 after buying an additional 134 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Solventum by 0.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,778 shares of the company’s stock valued at $1,500,000 after purchasing an additional 140 shares during the period. BOKF NA boosted its holdings in shares of Solventum by 6.9% in the third quarter. BOKF NA now owns 2,193 shares of the company’s stock worth $160,000 after acquiring an additional 141 shares during the period. Tradition Wealth Management LLC increased its holdings in Solventum by 1.6% during the 1st quarter. Tradition Wealth Management LLC now owns 8,830 shares of the company’s stock worth $671,000 after acquiring an additional 143 shares during the period. Finally, CHICAGO TRUST Co NA raised its position in shares of Solventum by 3.0% in the third quarter. CHICAGO TRUST Co NA now owns 5,188 shares of the company’s stock worth $379,000 after buying an additional 150 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.