Solventum (NYSE:SOLV) PT Lowered to $60.00

Solventum (NYSE:SOLV) had its target price decreased by Bank of America from $70.00 to $60.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other research analysts have also issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Solventum in a research note on Thursday, May 30th. They issued a sell rating and a $54.00 price target for the company. Edward Jones initiated coverage on shares of Solventum in a research note on Tuesday, April 2nd. They set a hold rating for the company. Wells Fargo & Company initiated coverage on shares of Solventum in a research note on Monday, April 8th. They set an equal weight rating and a $69.00 price objective for the company. Morgan Stanley started 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. Finally, Argus started coverage on shares of Solventum in a research note on Monday, June 24th. They issued a hold rating for the company. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Solventum has a consensus rating of Hold and an average target price of $63.25.

Solventum Stock Up 3.0 %

NYSE:SOLV opened at $52.88 on Tuesday. The stock has a 50-day moving average of $59.35. Solventum has a 12 month low of $50.49 and a 12 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.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, May 9th. The company reported $2.08 earnings per share (EPS) 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 forecast that Solventum will post 6.23 earnings per share for the current year.

Hedge Funds Weigh In On Solventum

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new stake in shares of Solventum during the first quarter valued at approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Solventum during the first quarter valued at $5,747,000. Magnetar Financial LLC purchased a new stake in shares of Solventum during the first quarter valued at $3,478,000. Alpine Global Management LLC purchased a new stake in shares of Solventum during the first quarter valued at $1,766,000. Finally, Fifth Lane Capital LP purchased a new stake in shares of Solventum during the first quarter valued at $826,000.

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.