Solventum (NYSE:SOLV) Given New $85.00 Price Target at Bank of America

Solventum (NYSE:SOLV) had its price objective lifted by Bank of America from $80.00 to $85.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other research firms also recently commented on SOLV. Morgan Stanley increased their target price on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler upped their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho began coverage on Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.86.

Solventum Price Performance

Shares of Solventum stock opened at $83.83 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. Solventum has a 52 week low of $47.16 and a 52 week high of $96.05. The firm’s 50 day moving average is $71.92 and its two-hundred day moving average is $69.63.

Institutional Investors Weigh In On Solventum

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Modus Advisors LLC purchased a new position in shares of Solventum during the fourth quarter worth about $25,000. Clarity Asset Management Inc. acquired a new stake in Solventum during the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Solventum in the 4th quarter valued at approximately $26,000. Raiffeisen Bank International AG acquired a new position in shares of Solventum in the fourth quarter valued at approximately $29,000. Finally, Crews Bank & Trust purchased a new stake in shares of Solventum during the fourth quarter worth approximately $32,000.

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.