Solventum (NYSE:SOLV) Earns Hold Rating from Analysts at Argus

Argus started coverage on shares of Solventum (NYSE:SOLV) in a report published on Monday morning, Marketbeat Ratings reports. The brokerage issued a hold rating on the stock.

SOLV has been the subject of several other reports. Wells Fargo & Company began coverage on Solventum in a research report on Monday, April 8th. They set an equal weight rating and a $69.00 price target for the company. Bank of America assumed coverage on shares of Solventum in a research note on Friday, May 10th. They issued a neutral rating and a $70.00 target price for the company. Edward Jones initiated coverage on shares of Solventum in a research report on Tuesday, April 2nd. They set a hold rating on the stock. The Goldman Sachs Group began coverage on shares of Solventum in a research report on Thursday, May 30th. They issued a sell rating and a $54.00 price objective for the company. Finally, Morgan Stanley started coverage on shares of Solventum in a report on Wednesday, April 10th. They issued an equal weight rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Solventum has a consensus rating of Hold and an average target price of $63.25.

Solventum Stock Performance

Shares of SOLV opened at $50.76 on Monday. Solventum has a 12 month low of $50.50 and a 12 month high of $96.05. The stock’s fifty day simple moving average is $60.00. The company has a quick ratio of 1.33, a current ratio of 1.81 and a debt-to-equity ratio of 2.16.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, May 9th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.67 by $0.41. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.99 billion. Equities research analysts anticipate that Solventum will post 6.23 earnings per share for the current year.

Hedge Funds Weigh In On Solventum

Several institutional investors and hedge funds have recently modified their holdings of SOLV. EverSource Wealth Advisors LLC bought a new stake in shares of Solventum during the 1st quarter worth about $30,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Solventum in the first quarter valued at approximately $5,889,000. LRI Investments LLC bought a new position in shares of Solventum during the first quarter worth approximately $43,000. Magnetar Financial LLC acquired a new stake in Solventum during the 1st quarter worth approximately $3,478,000. Finally, Alpine Global Management LLC bought a new stake in Solventum in the 1st quarter valued at $1,766,000.

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.