Solventum Co. (NYSE:SOLV) Receives Average Rating of “Reduce” from Analysts

Shares of Solventum Co. (NYSE:SOLV) have earned an average recommendation of “Reduce” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $63.25.

SOLV has been the topic of several analyst reports. Edward Jones assumed coverage on shares of Solventum in a research report on Tuesday, April 2nd. They set a “hold” rating on the stock. The Goldman Sachs Group assumed coverage on shares of Solventum in a research report on Thursday, May 30th. They issued a “sell” rating and a $54.00 target price on the stock. Wells Fargo & Company assumed coverage on shares of Solventum in a research report on Monday, April 8th. They issued an “equal weight” rating and a $69.00 target price on the stock. Bank of America cut their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Argus assumed coverage on shares of Solventum in a research report on Monday, June 24th. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Solventum

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD acquired a new position in shares of Solventum during the first quarter valued at about $5,889,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Solventum during the first quarter valued at about $5,747,000. Magnetar Financial LLC acquired a new position in shares of Solventum during the first quarter valued at about $3,478,000. Alpine Global Management LLC acquired a new position in shares of Solventum during the first quarter valued at about $1,766,000. Finally, Fifth Lane Capital LP purchased a new position in Solventum during the first quarter worth about $826,000.

Solventum Stock Up 3.0 %

Shares of SOLV opened at $52.88 on Monday. Solventum has a 12 month low of $50.49 and a 12 month high of $96.05. The stock’s 50 day simple moving average is $59.35. The company has a current ratio of 1.81, a quick ratio of 1.33 and a debt-to-equity ratio of 2.16.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, May 9th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.67 by $0.41. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, research analysts anticipate that Solventum will post 6.23 earnings per share for the current fiscal year.

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.