Piper Sandler Forecasts Strong Price Appreciation for Solventum (NYSE:SOLV) Stock

Solventum (NYSE:SOLV) had its target price boosted by equities researchers at Piper Sandler from $75.00 to $84.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 5.59% from the stock’s current price.

SOLV has been the subject of a number of other research reports. Morgan Stanley raised their price target on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Mizuho initiated coverage on shares of Solventum in a report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price target for the company. Finally, Bank of America lifted their target price on shares of Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $74.71.

Solventum Stock Down 4.7 %

Shares of NYSE SOLV opened at $79.56 on Friday. The company has a 50 day simple moving average of $72.51 and a 200-day simple moving average of $69.96. The company has a market capitalization of $13.74 billion and a P/E ratio of 28.93. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum has a 1 year low of $47.16 and a 1 year high of $96.05.

Hedge Funds Weigh In On Solventum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York Life Investment Management LLC boosted its position in Solventum by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock valued at $1,223,000 after buying an additional 136 shares during the period. Blue Trust Inc. boosted its position in Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock valued at $549,000 after buying an additional 161 shares during the period. MML Investors Services LLC boosted its position in Solventum by 3.2% in the 3rd quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock valued at $373,000 after buying an additional 168 shares during the period. EP Wealth Advisors LLC boosted its position in Solventum by 3.6% in the 4th quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company’s stock valued at $348,000 after buying an additional 181 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in Solventum by 2.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock valued at $584,000 after buying an additional 192 shares during the period.

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.