Solventum (NYSE:SOLV) Price Target Raised to $85.00

Solventum (NYSE:SOLV) had its target price upped by analysts at Bank of America from $80.00 to $85.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price indicates a potential upside of 1.51% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Mizuho assumed coverage on Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price on the stock. Morgan Stanley lifted their price target on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Piper Sandler boosted their price objective on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.86.

Solventum Stock Up 9.8 %

NYSE SOLV opened at $83.74 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The company has a fifty day moving average of $71.58 and a 200-day moving average of $69.53. Solventum has a 52-week low of $47.16 and a 52-week high of $96.05.

Hedge Funds Weigh In On Solventum

Several institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in shares of Solventum in the 4th quarter worth about $229,000. JT Stratford LLC grew its position in Solventum by 17.5% in the fourth quarter. JT Stratford LLC now owns 26,692 shares of the company’s stock worth $1,763,000 after acquiring an additional 3,967 shares in the last quarter. Ananym Capital Management LP bought a new stake in Solventum during the fourth quarter worth approximately $17,620,000. Poehling Capital Management INC. raised its position in Solventum by 271.2% during the fourth quarter. Poehling Capital Management INC. now owns 30,551 shares of the company’s stock valued at $2,018,000 after purchasing an additional 22,321 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Solventum by 5.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,106,194 shares of the company’s stock valued at $73,075,000 after purchasing an additional 52,423 shares during the last quarter.

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.