Solventum Corporation (NYSE:SOLV) Given Average Rating of "Hold" by Analysts

Solventum Corporation (NYSE:SOLV - Get Free Report) has been given a consensus recommendation of "Hold" by the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $81.50.

Several research firms recently weighed in on SOLV. Piper Sandler upgraded Solventum from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $78.00 to $87.00 in a report on Monday, May 19th. Argus raised shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Tuesday. Finally, KeyCorp assumed coverage on shares of Solventum in a report on Friday, June 6th. They set a "sector weight" rating for the company.

Solventum Stock Down 0.4%

SOLV stock opened at $77.90 on Friday. The firm has a market cap of $13.48 billion, a PE ratio of 36.06, a PEG ratio of 2.00 and a beta of 0.55. Solventum has a 1 year low of $47.16 and a 1 year high of $85.92. The company has a fifty day simple moving average of $72.43 and a 200 day simple moving average of $72.07. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40.

Solventum (NYSE:SOLV - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.02 billion. Solventum had a return on equity of 31.01% and a net margin of 4.55%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 earnings per share. Sell-side analysts anticipate that Solventum will post 6.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Solventum

Large investors have recently bought and sold shares of the stock. Swedbank AB raised its holdings in Solventum by 15.9% in the 1st quarter. Swedbank AB now owns 118,496 shares of the company's stock valued at $9,010,000 after acquiring an additional 16,233 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Solventum by 1.6% in the first quarter. Voya Investment Management LLC now owns 46,275 shares of the company's stock valued at $3,519,000 after purchasing an additional 722 shares in the last quarter. Strs Ohio acquired a new position in shares of Solventum in the first quarter valued at $1,431,000. Advisors Capital Management LLC lifted its position in Solventum by 43.6% in the first quarter. Advisors Capital Management LLC now owns 44,901 shares of the company's stock worth $3,414,000 after purchasing an additional 13,625 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Solventum by 49.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,301 shares of the company's stock worth $99,000 after buying an additional 428 shares in the last quarter.

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.

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