Solventum Co. (NYSE:SOLV) Receives $58.25 Consensus Target Price from Brokerages

Solventum Co. (NYSE:SOLV) has been given a consensus rating of “Reduce” by the seven research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $58.25.

Several brokerages have recently weighed in on SOLV. Bank of America reduced their price target on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. The Goldman Sachs Group increased their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. BTIG Research began coverage on Solventum in a report on Thursday, September 5th. They issued a “neutral” rating on the stock. Argus began coverage on Solventum in a report on Monday, June 24th. They issued a “hold” rating on the stock. Finally, Morgan Stanley reduced their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th.

Solventum Stock Performance

Shares of SOLV stock opened at $69.41 on Friday. Solventum has a 1 year low of $47.16 and a 1 year high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The company’s 50 day moving average is $57.97.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Solventum will post 6.38 EPS for the current year.

Institutional Trading of Solventum

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Davis Selected Advisers acquired a new stake in shares of Solventum in the 2nd quarter worth $273,070,000. Nuance Investments LLC purchased a new position in Solventum in the 2nd quarter worth $115,829,000. Newport Trust Company LLC purchased a new position in Solventum in the 2nd quarter worth $98,976,000. Baupost Group LLC MA purchased a new position in Solventum in the 2nd quarter worth $96,242,000. Finally, Magnetar Financial LLC raised its stake in Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after acquiring an additional 1,440,410 shares during the last quarter.

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.