Solventum (NYSE:SOLV) Sees Strong Trading Volume - What's Next?

Key Points

• Solventum Corporation experienced a significant increase in trading volume, with around 1,010,960 shares traded, despite a slight drop in stock price to $73.44.
• Recent analyst ratings include a shift to a "buy" recommendation from Argus with a target price of $90.00, while Morgan Stanley raised its target to $103.00.
• In its latest earnings report, Solventum beat expectations with earnings of $1.69 per share and revenue of $2.16 billion for the quarter.

Solventum Corporation (NYSE:SOLV - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 1,010,960 shares changed hands during trading, a decline of 2% from the previous session's volume of 1,036,227 shares.The stock last traded at $73.44 and had previously closed at $74.38.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SOLV shares. Wall Street Zen upgraded Solventum from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Piper Sandler restated an "overweight" rating and issued a $94.00 price target (up previously from $87.00) on shares of Solventum in a research note on Friday, August 8th. Wells Fargo & Company lifted their price target on Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a research note on Tuesday, July 1st. Finally, KeyCorp began coverage on Solventum in a research note on Friday, June 6th. They set a "sector weight" rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $85.75.

Solventum Stock Up 0.1%

The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 1.73 and a beta of 0.52. The business has a fifty day moving average of $74.02 and a 200 day moving average of $72.92. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.22 and a quick ratio of 0.86.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.24. Solventum had a return on equity of 29.93% and a net margin of 4.52%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.12 billion. During the same period in the prior year, the firm posted $1.56 earnings per share. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that Solventum Corporation will post 6.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SOLV. Raymond James Financial Inc. purchased a new stake in shares of Solventum during the fourth quarter worth approximately $18,583,000. Gabelli Funds LLC increased its holdings in Solventum by 15.3% in the fourth quarter. Gabelli Funds LLC now owns 3,656 shares of the company's stock valued at $242,000 after buying an additional 485 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in Solventum by 29.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 8,924 shares of the company's stock valued at $590,000 after buying an additional 2,025 shares during the last quarter. Marshall Wace LLP purchased a new position in Solventum in the fourth quarter valued at $378,000. Finally, First Trust Advisors LP increased its holdings in Solventum by 147.6% in the fourth quarter. First Trust Advisors LP now owns 139,990 shares of the company's stock valued at $9,248,000 after buying an additional 83,458 shares during the last quarter.

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.