Solventum (NYSE:SOLV) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Solventum (NYSE:SOLV) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks reports.

A number of other research analysts have also weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (up from $105.00) on shares of Solventum in a research note on Friday, November 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Solventum in a report on Thursday, October 8th. BTIG Research reissued a “buy” rating on shares of Solventum in a research report on Friday, November 6th. Wells Fargo & Company increased their price target on shares of Solventum from $89.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, November 6th. Finally, Weiss Ratings cut Solventum from a “buy (b-)” rating to a “hold (c-)” rating in a report on Monday, November 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.27.

Solventum Trading Up 0.0%

NYSE:SOLV traded up $0.04 on Thursday, reaching $88.85. The stock had a trading volume of 917,954 shares, compared to its average volume of 1,291,136. Solventum has a 12-month low of $62.38 and a 12-month high of $94.16. The company has a market cap of $15.08 billion, a price-to-earnings ratio of 99.83, a P/E/G ratio of 1.26 and a beta of 0.69. The firm’s fifty day moving average is $87.53 and its two-hundred day moving average is $78.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.03 and a quick ratio of 0.72.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.93 billion. Solventum had a net margin of 1.91% and a return on equity of 25.03%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.50 earnings per share. Equities analysts expect that Solventum will post 7.26 EPS for the current fiscal year.

Institutional Trading of Solventum

A number of institutional investors have recently added to or reduced their stakes in SOLV. Jump Financial LLC purchased a new position in Solventum in the third quarter valued at about $217,000. Pathstone Holdings LLC boosted its position in shares of Solventum by 17.2% in the third quarter. Pathstone Holdings LLC now owns 14,939 shares of the company’s stock worth $1,276,000 after buying an additional 2,195 shares during the period. Empowered Funds LLC purchased a new stake in shares of Solventum in the third quarter worth about $881,000. Steward Partners Investment Advisory LLC grew its stake in shares of Solventum by 27.4% in the third quarter. Steward Partners Investment Advisory LLC now owns 8,067 shares of the company’s stock valued at $711,000 after buying an additional 1,737 shares in the last quarter. Finally, Essex Financial Services Inc. acquired a new stake in shares of Solventum in the third quarter valued at about $253,000.

Solventum Company Profile

Solventum is a global healthcare company that develops products and services for hospitals, dental professionals, health systems and other care providers. It was formed from 3M’s healthcare business and became an independent public company in April 2024. The company’s offerings include medical and surgical supplies, wound-care products, sterilization and infection-prevention solutions, dental materials and technologies, and software for health information management. Its products and services support clinical care, dental care and healthcare administration.