Solventum (NYSE:SOLV) Now Covered by KeyCorp

Investment analysts at KeyCorp assumed coverage on shares of Solventum (NYSE:SOLV - Get Free Report) in a research report issued on Friday, Marketbeat Ratings reports. The firm set a "sector weight" rating on the stock.

Several other equities research analysts also recently commented on SOLV. Wells Fargo & Company lifted their target price on shares of 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 lifted their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. The Goldman Sachs Group increased their price objective on Solventum from $63.00 to $71.00 and gave the company a "sell" rating in a report on Monday, March 3rd. Mizuho raised their target price on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Finally, Piper Sandler raised Solventum from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $78.00 to $87.00 in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $80.29.

Solventum Price Performance

Shares of NYSE SOLV traded down $0.54 during midday trading on Friday, reaching $74.83. 715,600 shares of the company were exchanged, compared to its average volume of 1,211,725. The stock's 50-day moving average price is $69.36 and its 200-day moving average price is $71.52. The stock has a market cap of $12.95 billion and a P/E ratio of 34.64. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum has a one year low of $47.16 and a one year high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. The company's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS. On average, sell-side analysts anticipate that Solventum will post 6.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. New York Life Investment Management LLC grew its stake in Solventum by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock worth $1,223,000 after purchasing an additional 136 shares during the period. Tradition Wealth Management LLC boosted its holdings in shares of Solventum by 1.6% during the 1st quarter. Tradition Wealth Management LLC now owns 8,830 shares of the company's stock worth $671,000 after buying an additional 143 shares in the last quarter. Perigon Wealth Management LLC grew its position in shares of Solventum by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company's stock worth $331,000 after buying an additional 159 shares during the period. SouthState Corp increased its stake in shares of Solventum by 31.9% in the 1st quarter. SouthState Corp now owns 699 shares of the company's stock valued at $53,000 after acquiring an additional 169 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Solventum by 22.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 937 shares of the company's stock valued at $71,000 after acquiring an additional 171 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.