Solventum (NYSE:SOLV) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Solventum from “hold” to “strong buy.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $90.27.
• Solventum reported quarterly EPS of $1.45, beating the $1.34 consensus, and revenue of $1.95 billion, above estimates. Revenue nevertheless fell 7% year over year.
• Shares traded at $88.85, near the analysts’ average target; the stock’s 52-week range is $62.38 to $94.16.

Solventum (NYSE:SOLV - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Thursday, Zacks reports.

Several other analysts have also recently weighed in on the company. Wall Street Zen cut Solventum from a "buy" rating to a "hold" rating in a report on Saturday, November 7th. UBS Group upped their target price on shares of Solventum from $95.00 to $101.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wells Fargo & Company lifted their price target on shares of Solventum from $89.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Friday, November 6th. BTIG Research reissued a "buy" rating on shares of Solventum in a research note on Friday, November 6th. Finally, Stifel Nicolaus increased their price objective on shares of Solventum from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Solventum has an average rating of "Moderate Buy" and an average price target of $90.27.

Solventum Price Performance

Shares of Solventum stock traded up $0.04 during midday trading on Thursday, reaching $88.85. The company had a trading volume of 917,954 shares, compared to its average volume of 1,291,136. The company has a current ratio of 1.03, a quick ratio of 0.72 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $87.53 and a 200 day simple moving average of $78.95. Solventum has a 1-year low of $62.38 and a 1-year high of $94.16. The company has a market capitalization of $15.08 billion, a price-to-earnings ratio of 99.83, a price-to-earnings-growth ratio of 1.26 and a beta of 0.69.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.11. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.93 billion. Solventum had a return on equity of 25.03% and a net margin of 1.91%. The business's quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the company earned $1.50 EPS. As a group, equities research analysts forecast that Solventum will post 7.26 earnings per share for the current year.

Hedge Funds Weigh In On Solventum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC acquired a new stake in Solventum in the third quarter worth $881,000. Steward Partners Investment Advisory LLC lifted its holdings in Solventum by 27.4% during the third quarter. Steward Partners Investment Advisory LLC now owns 8,067 shares of the company's stock worth $711,000 after acquiring an additional 1,737 shares in the last quarter. Essex Financial Services Inc. acquired a new position in Solventum in the third quarter valued at about $253,000. N.F.U. MUTUAL UNIT MANAGERS Ltd acquired a new position in Solventum in the third quarter valued at about $654,000. Finally, First Trust Advisors LP grew its stake in Solventum by 20.9% in the third quarter. First Trust Advisors LP now owns 492,343 shares of the company's stock valued at $43,400,000 after acquiring an additional 85,127 shares during the period.

Solventum Company Profile

Solventum is a global healthcare company that develops products and services for hospitals, dental professionals, health systems and other care providers. It was formed from 3M's healthcare business and became an independent public company in April 2024. The company's offerings include medical and surgical supplies, wound-care products, sterilization and infection-prevention solutions, dental materials and technologies, and software for health information management. Its products and services support clinical care, dental care and healthcare administration.

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