Solventum Co. (NYSE:SOLV) Given Average Rating of “Hold” by Analysts

Solventum Co. (NYSE:SOLV) has been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $68.29.

Several brokerages have recently issued reports on SOLV. Wolfe Research initiated coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. BTIG Research started coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Stifel Nicolaus initiated coverage on shares of Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. Piper Sandler boosted their target price on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised their price target on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th.

Solventum Price Performance

SOLV stock opened at $69.56 on Monday. The business has a 50 day moving average of $70.91 and a 200-day moving average of $63.24. Solventum has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Hedge Funds Weigh In On Solventum

Hedge funds have recently made changes to their positions in the stock. Trian Fund Management L.P. boosted its position in shares of Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock valued at $496,842,000 after acquiring an additional 1,765,676 shares during the period. State Street Corp lifted its stake in Solventum by 3.1% in the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after purchasing an additional 185,938 shares in the last quarter. Davis Selected Advisers bought a new position in Solventum in the 2nd quarter valued at $273,070,000. Geode Capital Management LLC grew its position in shares of Solventum by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock valued at $232,608,000 after purchasing an additional 128,317 shares in the last quarter. Finally, Nuance Investments LLC bought a new position in shares of Solventum in the second quarter worth $115,829,000.

About Solventum

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.