Brokerages Set Solventum Corporation (NYSE:SOLV) Target Price at $90.83

Shares of Solventum Corporation (NYSE:SOLV) have been assigned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $90.8333.

Several research firms have recently weighed in on SOLV. UBS Group reissued a “neutral” rating on shares of Solventum in a research report on Friday, November 21st. Mizuho set a $100.00 price objective on shares of Solventum and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Stifel Nicolaus increased their target price on shares of Solventum from $88.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Zacks Research cut shares of Solventum from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Finally, Wall Street Zen lowered shares of Solventum from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th.

Solventum Trading Down 0.5%

Shares of NYSE SOLV opened at $75.59 on Friday. Solventum has a 1-year low of $60.70 and a 1-year high of $88.20. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.50 and a quick ratio of 1.14. The business’s 50 day moving average is $79.88 and its two-hundred day moving average is $76.15. The stock has a market capitalization of $13.11 billion, a P/E ratio of 8.71, a PEG ratio of 6.94 and a beta of 0.35.

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

Hedge Funds Weigh In On Solventum

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in Solventum by 0.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 33,974 shares of the company’s stock worth $2,577,000 after purchasing an additional 210 shares during the last quarter. South Dakota Investment Council raised its holdings in shares of Solventum by 3.6% in the second quarter. South Dakota Investment Council now owns 255,625 shares of the company’s stock worth $19,387,000 after buying an additional 8,960 shares during the last quarter. Purus Wealth Management LLC acquired a new stake in shares of Solventum during the second quarter worth $252,000. Terril Brothers Inc. grew its holdings in shares of Solventum by 15.3% during the second quarter. Terril Brothers Inc. now owns 96,516 shares of the company’s stock valued at $7,320,000 after buying an additional 12,800 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Solventum during the second quarter valued at $3,076,000.

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. 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.