Solventum (NYSE:SOLV) Price Target Lowered to $64.00 at Wells Fargo & Company

Solventum (NYSE:SOLV) had its price target lowered by equities researchers at Wells Fargo & Company from $69.00 to $64.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 5.26% from the company’s current price.

SOLV has been the subject of several other reports. Argus started coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. Bank of America lowered their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Morgan Stanley decreased their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Finally, The Goldman Sachs Group decreased their target price on Solventum from $54.00 to $48.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.75.

Solventum Trading Up 3.6 %

SOLV traded up $2.14 on Friday, hitting $60.80. 981,407 shares of the company were exchanged, compared to its average volume of 2,173,199. Solventum has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.81 and a quick ratio of 1.33. The business has a 50-day moving average price of $54.09.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The firm’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Solventum will post 6.25 earnings per share for the current fiscal year.

Institutional Trading of Solventum

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD acquired a new stake in Solventum during the 1st quarter worth approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Solventum during the 1st quarter worth approximately $5,747,000. DNB Asset Management AS acquired a new stake in Solventum during the 2nd quarter worth approximately $1,227,000. Trust Co. of Vermont acquired a new stake in Solventum during the 2nd quarter worth approximately $854,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in Solventum during the 1st quarter worth approximately $30,000.

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.