Solventum (NYSE:SOLV) Price Target Raised to $73.00

Solventum (NYSE:SOLV) had its target price upped by Morgan Stanley from $60.00 to $73.00 in a report released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also weighed in on SOLV. Piper Sandler raised their price objective on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. BTIG Research initiated coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Wolfe Research started coverage on Solventum in a report on Thursday, September 26th. They set a “peer perform” rating on the stock. Stifel Nicolaus assumed coverage on Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $68.00.

Solventum Trading Down 0.9 %

Shares of NYSE:SOLV opened at $70.04 on Monday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The company’s fifty day moving average is $70.37 and its 200-day moving average is $62.12. Solventum has a 52 week low of $47.16 and a 52 week high of $96.05.

Institutional Trading of Solventum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Davis Selected Advisers bought a new position in shares of Solventum in the 2nd quarter valued at about $273,070,000. Nuance Investments LLC acquired a new stake in Solventum during the 2nd quarter worth $115,829,000. Newport Trust Company LLC acquired a new stake in Solventum during the 2nd quarter worth $98,976,000. Baupost Group LLC MA acquired a new position in shares of Solventum in the 2nd quarter valued at $96,242,000. Finally, Magnetar Financial LLC boosted its position in shares of Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after purchasing an additional 1,440,410 shares during 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.