Analysts Set Solventum Co. (NYSE:SOLV) PT at $65.75

Solventum Co. (NYSE:SOLV) has received an average rating of “Reduce” from the six analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $63.25.

Several brokerages have commented on SOLV. Morgan Stanley assumed coverage on Solventum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $70.00 target price for the company. Wells Fargo & Company assumed coverage on shares of Solventum in a report on Monday, April 8th. They set an “equal weight” rating and a $69.00 target price on the stock. Argus assumed coverage on shares of Solventum in a report on Monday, June 24th. They issued a “hold” rating for the company. Edward Jones started coverage on shares of Solventum in a report on Tuesday, April 2nd. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on Solventum in a research note on Thursday, May 30th. They set a “sell” rating and a $54.00 price objective for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC bought a new stake in Solventum during the first quarter worth about $30,000. LRI Investments LLC purchased a new stake in Solventum in the first quarter worth approximately $43,000. Boit C F David bought a new position in Solventum during the first quarter valued at approximately $152,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Solventum during the first quarter worth approximately $209,000. Finally, Fifth Lane Capital LP bought a new stake in shares of Solventum in the 1st quarter worth approximately $826,000.

Solventum Price Performance

NYSE SOLV opened at $52.88 on Monday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.33 and a current ratio of 1.81. The company has a 50 day simple moving average of $59.35. Solventum has a 12-month low of $50.49 and a 12-month high of $96.05.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, May 9th. The company reported $2.08 earnings per share (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 the consensus estimate of $1.99 billion. On average, equities analysts expect that Solventum will post 6.23 EPS for the current year.

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.