Solventum (NYSE:SOLV - Get Free Report) had its price target hoisted by Wells Fargo & Company from $89.00 to $95.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 3.15% from the stock's previous close.
A number of other equities analysts have also recently commented on the stock. Wedbush lifted their target price on shares of Solventum from $94.00 to $101.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. KeyCorp upped their price target on shares of Solventum from $93.00 to $102.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. BTIG Research reaffirmed a "buy" rating on shares of Solventum in a research note on Friday. Wall Street Zen upgraded shares of Solventum from a "hold" rating to a "buy" rating in a report on Saturday, September 12th. Finally, Benchmark reissued a "buy" rating on shares of Solventum in a report on Thursday, October 8th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.27.
Get Our Latest Stock Report on SOLV
Solventum Price Performance
SOLV traded up $4.92 during midday trading on Friday, hitting $92.10. The stock had a trading volume of 303,359 shares, compared to its average volume of 1,297,570. Solventum has a 1 year low of $62.38 and a 1 year high of $94.16. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 1.02. The business has a fifty day moving average of $87.75 and a 200 day moving average of $78.64. The company has a market cap of $15.68 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 1.30 and a beta of 0.69.
Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.34 by $0.11. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. Solventum had a net margin of 17.26% and a return on equity of 25.09%. The business's revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm posted $1.50 earnings per share. As a group, equities analysts forecast that Solventum will post 7.21 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Solventum
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Solventum in the second quarter worth $150,066,000. Bank of America Corp DE boosted its position in shares of Solventum by 0.6% during the first quarter. Bank of America Corp DE now owns 1,432,780 shares of the company's stock valued at $93,561,000 after buying an additional 9,083 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Solventum in the 2nd quarter worth about $61,460,000. Dimensional Fund Advisors LP increased its holdings in Solventum by 44.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 774,683 shares of the company's stock worth $50,576,000 after buying an additional 236,659 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Solventum by 16,656.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 482,930 shares of the company's stock worth $42,570,000 after buying an additional 480,048 shares in the last quarter.
Trending Headlines about Solventum
Here are the key news stories impacting Solventum this week:
About Solventum
(
Get Free Report)
Solventum Corporation NYSE: SOLV is a global healthcare company that develops products and solutions intended to improve patient care, support healthcare professionals and enhance the efficiency of healthcare systems. Its offerings serve hospitals, clinics, dental practices, laboratories, manufacturers and other healthcare-related organizations.
The company's portfolio includes medical and surgical products such as wound-care systems, dressings, skin-protection products, sterilization assurance products and solutions used in operating rooms.
Further Reading

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