Solventum Co. (NYSE:SOLV) Receives Average Recommendation of “Hold” from Analysts

Shares of Solventum Co. (NYSE:SOLV) have received an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $79.86.

Several research firms recently weighed in on SOLV. Mizuho boosted their price objective on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Piper Sandler boosted their price objective on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Wells Fargo & Company boosted their price objective on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Bank of America boosted their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley boosted their price objective on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday.

Hedge Funds Weigh In On Solventum

Large investors have recently added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC raised its holdings in Solventum by 373.6% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock valued at $3,323,000 after acquiring an additional 37,600 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Solventum by 24.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after purchasing an additional 9,333 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Solventum by 37.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after purchasing an additional 32,051 shares during the period. State Street Corp grew its stake in shares of Solventum by 3.1% in the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after purchasing an additional 185,938 shares during the period. Finally, Forsta AP Fonden bought a new stake in shares of Solventum in the 4th quarter valued at approximately $1,876,000.

Solventum Stock Performance

SOLV opened at $77.96 on Friday. The company has a market cap of $13.47 billion and a PE ratio of 28.35. The stock has a 50-day moving average of $73.65 and a 200-day moving average of $70.55. Solventum has a 52-week low of $47.16 and a 52-week high of $85.92. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

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.