Brokerages Set Solventum Co. (NYSE:SOLV) PT at $80.29

Solventum Co. (NYSE:SOLV) has been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $80.29.

A number of brokerages have recently issued reports on SOLV. Bank of America boosted their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Morgan Stanley lifted their price target on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Mizuho lifted their price target on shares of Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Wells Fargo & Company lifted their price target 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. Finally, Piper Sandler upgraded shares of Solventum from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $87.00 in a research report on Monday, May 19th.

Institutional Investors Weigh In On Solventum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. New York Life Investment Management LLC lifted its stake in Solventum by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock worth $1,223,000 after purchasing an additional 136 shares during the last quarter. Tradition Wealth Management LLC lifted its stake in Solventum by 1.6% during the first quarter. Tradition Wealth Management LLC now owns 8,830 shares of the company’s stock worth $671,000 after purchasing an additional 143 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in Solventum by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company’s stock worth $331,000 after purchasing an additional 159 shares during the last quarter. SouthState Corp lifted its stake in Solventum by 31.9% during the first quarter. SouthState Corp now owns 699 shares of the company’s stock worth $53,000 after purchasing an additional 169 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Solventum by 22.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company’s stock worth $71,000 after purchasing an additional 171 shares during the last quarter.

Solventum Trading Down 0.9%

Shares of NYSE:SOLV opened at $73.61 on Monday. Solventum has a 12-month low of $47.16 and a 12-month high of $85.92. The stock has a market cap of $12.74 billion, a PE ratio of 34.08, a P/E/G ratio of 1.94 and a beta of 0.54. The business has a 50 day moving average of $69.98 and a 200-day moving average of $71.66. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Solventum will post 6.58 earnings per share for the current 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.