Solventum (NYSE:SOLV) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Solventum (NYSE:SOLV) in a report released on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $82.00 price target on the stock.

SOLV has been the topic of a number of other research reports. Piper Sandler started coverage on Solventum in a report on Monday, October 7th. They set a neutral rating and a $71.00 price objective on the stock. Morgan Stanley cut their price target on shares of Solventum from $70.00 to $55.00 and set an equal weight rating for the company in a report on Monday, July 15th. Argus initiated coverage on shares of Solventum in a research report on Monday, June 24th. They set a hold rating on the stock. Wells Fargo & Company reduced their price target on shares of Solventum from $69.00 to $64.00 and set an equal weight rating for the company in a research report on Friday, August 9th. Finally, Bank of America decreased their price target on Solventum from $70.00 to $60.00 and set a neutral rating on the stock in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $64.33.

Solventum Trading Up 0.1 %

Shares of SOLV opened at $68.14 on Tuesday. Solventum has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The business’s 50-day simple moving average is $64.56. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96.

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

Institutional Investors Weigh In On Solventum

Several hedge funds have recently modified their holdings of SOLV. Wedge Capital Management L L P NC acquired a new stake in Solventum in the 3rd quarter worth about $4,894,000. Affiance Financial LLC acquired a new stake in Solventum during the third quarter worth about $210,000. CHICAGO TRUST Co NA acquired a new stake in Solventum during the 3rd quarter worth approximately $313,000. Exchange Traded Concepts LLC purchased a new position in shares of Solventum in the 3rd quarter valued at $60,000. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in shares of Solventum during the 3rd quarter valued at $205,000.

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.