Solventum (NYSE:SOLV) Shares Gap Up – Here’s What Happened

Solventum Co. (NYSE:SOLV) shares gapped up prior to trading on Thursday . The stock had previously closed at $76.31, but opened at $77.98. Solventum shares last traded at $79.22, with a volume of 204,317 shares traded.

Wall Street Analyst Weigh In

SOLV has been the topic of a number of analyst reports. Piper Sandler boosted their price target on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Morgan Stanley upped their price objective on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group upped their price objective on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. Wells Fargo & Company upped their price objective on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Finally, Mizuho upped their price objective on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Solventum currently has an average rating of “Hold” and an average price target of $79.86.

Solventum Price Performance

The firm has a fifty day moving average price of $75.17 and a two-hundred day moving average price of $71.51. The stock has a market capitalization of $12.80 billion and a P/E ratio of 26.91. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Hedge Funds Weigh In On Solventum

Several hedge funds and other institutional investors have recently modified their holdings of the company. DSG Capital Advisors LLC bought a new position in shares of Solventum during the 4th quarter valued at $261,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Solventum by 2.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 48,979 shares of the company’s stock valued at $3,236,000 after buying an additional 1,057 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Solventum during the 4th quarter valued at $3,472,000. GF Fund Management CO. LTD. purchased a new stake in shares of Solventum in the 4th quarter worth $229,000. Finally, JT Stratford LLC increased its stake in shares of Solventum by 17.5% in the 4th quarter. JT Stratford LLC now owns 26,692 shares of the company’s stock worth $1,763,000 after purchasing an additional 3,967 shares in 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.