Wolfe Research Begins Coverage on Solventum (NYSE:SOLV)

Wolfe Research began coverage on shares of Solventum (NYSE:SOLV) in a research report released on Thursday morning, Marketbeat reports. The firm issued a peer perform rating on the stock.

A number of other research firms have also recently issued reports on SOLV. Argus initiated coverage on Solventum in a research report on Monday, June 24th. They issued a hold rating for the company. Wells Fargo & Company cut their price target on Solventum from $69.00 to $64.00 and set an equal weight rating for the company in a report on Friday, August 9th. Morgan Stanley decreased their price objective on shares of Solventum from $70.00 to $55.00 and set an equal weight rating on the stock in a report on Monday, July 15th. The Goldman Sachs Group raised their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a sell rating in a research note on Monday, August 12th. Finally, Bank of America reduced their target price on shares of Solventum from $70.00 to $60.00 and set a neutral rating for the company in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $58.25.

Solventum Stock Performance

Shares of SOLV opened at $67.57 on Thursday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. The stock’s fifty day moving average price is $62.70. Solventum has a 1-year low of $47.16 and a 1-year high of $96.05.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The business’s revenue was up .2% on a year-over-year basis. Equities analysts forecast that Solventum will post 6.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solventum

Institutional investors have recently modified their holdings of the business. Deseret Mutual Benefit Administrators bought a new position in Solventum during the second quarter worth about $25,000. Hollencrest Capital Management acquired a new position in shares of Solventum during the 2nd quarter worth approximately $25,000. Partnership Wealth Management LLC acquired a new stake in shares of Solventum in the second quarter valued at approximately $26,000. Richard W. Paul & Associates LLC bought a new stake in shares of Solventum in the second quarter valued at approximately $26,000. Finally, Family Firm Inc. bought a new position in Solventum during the 2nd quarter worth $26,000.

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.