Solventum (NYSE:SOLV) PT Lowered to $60.00

Solventum (NYSE:SOLVGet Free Report) had its target price lowered by analysts at Bank of America from $70.00 to $60.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective indicates a potential upside of 17.53% from the stock’s current price.

Several other research firms also recently weighed in on SOLV. Wells Fargo & Company started coverage on shares of Solventum in a research note on Monday, April 8th. They issued an “equal weight” rating and a $69.00 price target for the company. Edward Jones initiated coverage on shares of Solventum in a research note on Tuesday, April 2nd. They issued a “hold” rating for the company. Morgan Stanley initiated coverage on shares of Solventum in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $70.00 price objective for the company. Argus initiated coverage on shares of Solventum in a research note on Monday. They set a “hold” rating for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Solventum in a research note on Thursday, May 30th. They set a “sell” rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.25.

Check Out Our Latest Research Report on SOLV

Solventum Stock Performance

Solventum stock traded down $0.25 during mid-day trading on Tuesday, hitting $51.05. The company’s stock had a trading volume of 742,043 shares, compared to its average volume of 2,469,093. The company has a quick ratio of 1.33, a current ratio of 1.81 and a debt-to-equity ratio of 2.16. The business has a 50 day moving average of $60.22. Solventum has a 12 month low of $50.63 and a 12 month high of $96.05.

Solventum (NYSE:SOLVGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.41. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.99 billion. Research analysts expect that Solventum will post 6.26 EPS for the current year.

Hedge Funds Weigh In On Solventum

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC purchased a new position in shares of Solventum during the first quarter valued at about $30,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Solventum during the first quarter valued at about $5,889,000. LRI Investments LLC purchased a new position in shares of Solventum during the first quarter valued at about $43,000. Magnetar Financial LLC purchased a new position in shares of Solventum during the first quarter valued at about $3,478,000. Finally, Alpine Global Management LLC purchased a new position in shares of Solventum during the first quarter valued at about $1,766,000.

About Solventum

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Solventum (NYSE:SOLV)

Receive News & Ratings for Solventum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solventum and related companies with MarketBeat.com's FREE daily email newsletter.