Wells Fargo & Company Issues Positive Forecast for Solventum (NYSE:SOLV) Stock Price

Solventum (NYSE:SOLV) had its target price increased by Wells Fargo & Company from $73.00 to $75.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 5.33% from the company’s current price.

Other research analysts also recently issued reports about the company. Bank of America boosted their price target on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday. Piper Sandler increased their target price on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley lifted their price target on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Mizuho initiated coverage on shares of Solventum in a report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Solventum has a consensus rating of “Hold” and an average target price of $74.71.

Solventum Trading Down 5.1 %

Shares of NYSE SOLV traded down $4.22 during midday trading on Friday, reaching $79.23. 1,040,618 shares of the stock were exchanged, compared to its average volume of 1,000,738. The stock has a 50 day moving average price of $72.25 and a 200-day moving average price of $69.73. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum has a 52-week low of $47.16 and a 52-week high of $96.05.

Institutional Trading of Solventum

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Solventum by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company’s stock valued at $1,074,591,000 after buying an additional 75,631 shares in the last quarter. Trian Fund Management L.P. raised its stake in shares of Solventum by 18.8% in the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company’s stock valued at $559,054,000 after acquiring an additional 1,336,564 shares during the period. State Street Corp lifted its holdings in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after acquiring an additional 185,938 shares in the last quarter. Geode Capital Management LLC boosted its position in Solventum by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company’s stock worth $227,992,000 after purchasing an additional 112,686 shares during the period. Finally, Norges Bank acquired a new stake in Solventum in the 4th quarter valued at $203,740,000.

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.