Wells Fargo & Company Issues Positive Forecast for Solventum (NYSE:SOLV) Stock Price

Solventum (NYSE:SOLV) had its target price increased by Wells Fargo & Company from $73.00 to $75.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms also recently issued reports on SOLV. Morgan Stanley lifted their price target on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Mizuho assumed coverage on shares of Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price for the company. Bank of America lifted their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Piper Sandler boosted their target price on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Solventum currently has a consensus rating of “Hold” and a consensus price target of $74.71.

Solventum Stock Performance

NYSE:SOLV opened at $79.56 on Friday. The firm has a market capitalization of $13.74 billion and a PE ratio of 28.93. The business’s fifty day moving average price is $72.51 and its 200 day moving average price is $69.88. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum has a 12 month low of $47.16 and a 12 month high of $96.05.

Institutional Trading of Solventum

Several institutional investors and hedge funds have recently bought and sold shares of SOLV. Norges Bank bought a new stake in Solventum in the fourth quarter valued at approximately $203,740,000. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Solventum during the third quarter worth approximately $125,488,000. Trian Fund Management L.P. increased its stake in shares of Solventum by 32.9% during the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after purchasing an additional 1,765,676 shares during the period. Boston Partners bought a new position in shares of Solventum during the fourth quarter worth approximately $110,378,000. Finally, Independent Franchise Partners LLP increased its stake in shares of Solventum by 105.0% during the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company’s stock worth $105,904,000 after purchasing an additional 821,272 shares during the period.

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.