Solventum (NYSE:SOLV) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Solventum (NYSE:SOLV) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Other analysts also recently issued reports about the company. Piper Sandler restated an “overweight” rating on shares of Solventum in a research report on Wednesday, December 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Solventum in a research note on Tuesday, January 27th. Stifel Nicolaus raised their target price on shares of Solventum from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. UBS Group reiterated a “neutral” rating on shares of Solventum in a report on Friday, November 21st. Finally, Zacks Research downgraded shares of Solventum from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Solventum presently has an average rating of “Hold” and an average price target of $90.83.

Solventum Trading Up 1.6%

SOLV opened at $78.20 on Friday. The stock has a 50-day moving average of $80.72 and a 200 day moving average of $75.95. The company has a current ratio of 1.50, a quick ratio of 1.14 and a debt-to-equity ratio of 1.03. Solventum has a 12 month low of $60.70 and a 12 month high of $88.20. The firm has a market cap of $13.56 billion, a P/E ratio of 9.01, a P/E/G ratio of 7.17 and a beta of 0.35.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, November 6th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.07. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.05 billion. Solventum had a return on equity of 28.01% and a net margin of 18.13%.The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the company earned $1.64 EPS. As a group, research analysts forecast that Solventum will post 6.58 EPS for the current year.

Solventum announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Solventum

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. grew its holdings in Solventum by 21.4% in the 4th quarter. Assetmark Inc. now owns 725 shares of the company’s stock valued at $57,000 after buying an additional 128 shares in the last quarter. Allworth Financial LP boosted its position in shares of Solventum by 2.8% during the 3rd quarter. Allworth Financial LP now owns 4,788 shares of the company’s stock valued at $350,000 after acquiring an additional 129 shares during the last quarter. Hilltop National Bank grew its holdings in shares of Solventum by 71.3% in the fourth quarter. Hilltop National Bank now owns 310 shares of the company’s stock valued at $25,000 after purchasing an additional 129 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Solventum by 0.5% in the third quarter. CIBC Private Wealth Group LLC now owns 24,710 shares of the company’s stock valued at $1,804,000 after purchasing an additional 134 shares during the period. Finally, BOKF NA increased its position in Solventum by 6.9% during the third quarter. BOKF NA now owns 2,193 shares of the company’s stock worth $160,000 after purchasing an additional 141 shares during the last quarter.

Solventum Company Profile

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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.