Solventum (NYSE:SOLV) Stock Price Expected to Rise, Piper Sandler Analyst Says

Solventum (NYSE:SOLV) had its target price lifted by Piper Sandler from $71.00 to $75.00 in a report released on Friday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on SOLV. Stifel Nicolaus began coverage on Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price for the company. Wells Fargo & Company lowered their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group boosted their price target on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. BTIG Research assumed coverage on Solventum in a research note on Thursday, September 5th. They set a “neutral” rating on the stock. Finally, Wolfe Research began coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Solventum currently has an average rating of “Hold” and a consensus target price of $65.00.

Solventum Stock Performance

SOLV stock opened at $72.43 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. Solventum has a 12-month low of $47.16 and a 12-month high of $96.05. The business’s fifty day moving average price is $70.08 and its 200 day moving average price is $62.02.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Solventum will post 6.59 EPS for the current year.

Institutional Trading of Solventum

A number of hedge funds have recently modified their holdings of SOLV. Davis Selected Advisers bought a new position in Solventum in the 2nd quarter valued at $273,070,000. Nuance Investments LLC bought a new position in shares of Solventum during the second quarter worth $115,829,000. Newport Trust Company LLC bought a new position in shares of Solventum during the second quarter worth $98,976,000. Baupost Group LLC MA bought a new stake in Solventum in the 2nd quarter valued at $96,242,000. Finally, Magnetar Financial LLC lifted its position in Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after acquiring an additional 1,440,410 shares in 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.