Solventum (NYSE:SOLV) Price Target Cut to $78.00 by Analysts at Piper Sandler

Solventum (NYSE:SOLV) had its price objective reduced by Piper Sandler from $80.00 to $78.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their target price on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. Mizuho lifted their target price on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Bank of America increased their price target on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley lifted their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company increased their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.00.

Solventum Stock Performance

Shares of Solventum stock opened at $70.22 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The stock’s fifty day moving average price is $70.17 and its 200-day moving average price is $71.28. The firm has a market cap of $12.15 billion and a P/E ratio of 25.53. Solventum has a 12 month low of $47.16 and a 12 month high of $85.92.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the business posted $2.08 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that Solventum will post 6.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solventum

Institutional investors and hedge funds have recently made changes to their positions in the stock. Clarity Asset Management Inc. purchased a new position in Solventum in the 4th quarter worth $25,000. Rossby Financial LCC acquired a new position in shares of Solventum in the first quarter valued at about $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Solventum in the fourth quarter worth about $26,000. Raiffeisen Bank International AG acquired a new stake in shares of Solventum during the fourth quarter worth about $29,000. Finally, Crews Bank & Trust purchased a new stake in Solventum in the fourth quarter valued at approximately $32,000.

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.