Solventum Co. (NYSE:SOLV) Receives $65.75 Consensus Price Target from Analysts

Solventum Co. (NYSE:SOLV) has earned a consensus rating of “Reduce” from the six research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $63.25.

SOLV has been the subject of a number of analyst reports. Argus initiated coverage on Solventum in a report on Monday. They set a “hold” rating on the stock. Bank of America lowered their price target on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company started coverage on shares of Solventum in a report on Monday, April 8th. They set an “equal weight” rating and a $69.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Solventum in a research report on Thursday, May 30th. They set a “sell” rating and a $54.00 price objective on the stock. Finally, Edward Jones started coverage on shares of Solventum in a research note on Tuesday, April 2nd. They set a “hold” rating for the company.

Institutional Investors Weigh In On Solventum

A number of institutional investors and hedge funds have recently bought and sold shares of SOLV. Fifth Lane Capital LP bought a new position in shares of Solventum during the first quarter valued at approximately $826,000. Boit C F David bought a new stake in Solventum during the first quarter valued at about $152,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum in the first quarter valued at about $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Solventum in the first quarter worth about $209,000. Finally, LRI Investments LLC purchased a new stake in shares of Solventum during the first quarter valued at about $43,000.

Solventum Stock Down 1.0 %

Shares of SOLV opened at $50.76 on Monday. Solventum has a one year low of $50.50 and a one year high of $96.05. The business has a fifty day moving average price of $60.00. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.81 and a quick ratio of 1.33.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, May 9th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.41. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.99 billion. On average, research analysts predict that Solventum will post 6.23 EPS for the current year.

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.