Solventum (NYSE:SOLV) Earns Neutral Rating from Analysts at Bank of America

Stock analysts at Bank of America began coverage on shares of Solventum (NYSE:SOLV - Get Free Report) in a research note issued on Friday, MarketBeat.com reports. The brokerage set a "neutral" rating and a $70.00 price target on the stock. Bank of America's price target would indicate a potential upside of 9.82% from the company's current price.

SOLV has been the topic of several other reports. Wells Fargo & Company initiated coverage on Solventum in a research report on Monday, April 8th. They issued an "equal weight" rating and a $69.00 target price on the stock. Morgan Stanley began coverage on Solventum in a research note on Wednesday, April 10th. They issued an "equal weight" rating and a $70.00 price objective on the stock. Finally, Edward Jones initiated coverage on Solventum in a research report on Tuesday, April 2nd. They issued a "hold" rating for the company.

Solventum Price Performance

Shares of NYSE:SOLV traded down $1.09 on Friday, reaching $63.74. 1,896,594 shares of the company's stock were exchanged, compared to its average volume of 1,863,487. Solventum has a fifty-two week low of $60.72 and a fifty-two week high of $96.05.

Solventum (NYSE:SOLV - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.41. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.99 billion. Equities analysts predict that Solventum will post 6.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Solventum

A number of institutional investors have recently made changes to their positions in SOLV. Boit C F David acquired a new stake in shares of Solventum in the first quarter worth $152,000. Fifth Lane Capital LP acquired a new stake in Solventum during the first quarter worth about $826,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in Solventum during the first quarter valued at about $5,747,000.

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.