Solventum (NYSE:SOLV) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Solventum's stock rating has been upgraded from "buy" to "strong-buy" by Wall Street Zen, indicating increased confidence in the company's prospects.
• Multiple analysts have raised their target prices for Solventum, with a new consensus target price of $85.75 and a "hold" rating overall.
• The company recently reported strong quarterly earnings, with an EPS of $1.69, surpassing estimates and demonstrating a year-over-year revenue increase of 3.8%.

Wall Street Zen upgraded shares of Solventum (NYSE:SOLV - Free Report) from a buy rating to a strong-buy rating in a research report released on Saturday.

Several other brokerages have also recently commented on SOLV. Argus raised shares of Solventum from a "hold" rating to a "buy" rating and set a $90.00 price objective for the company in a research note on Tuesday, July 1st. KeyCorp started coverage on shares of Solventum in a report on Friday, June 6th. They issued a "sector weight" rating for the company. Morgan Stanley upgraded shares of Solventum from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $80.00 to $103.00 in a research note on Tuesday, July 15th. Wells Fargo & Company increased their price objective on shares of Solventum from $75.00 to $79.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Finally, Piper Sandler reissued an "overweight" rating and set a $94.00 price objective (up from $87.00) on shares of Solventum in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $85.75.

Solventum Trading Up 1.2%

Shares of SOLV traded up $0.8450 during trading hours on Friday, hitting $71.6050. 447,045 shares of the stock were exchanged, compared to its average volume of 1,085,632. Solventum has a fifty-two week low of $58.76 and a fifty-two week high of $85.92. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.22 and a quick ratio of 0.86. The business has a 50-day moving average of $73.93 and a 200-day moving average of $72.89. The firm has a market capitalization of $12.42 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52.

Solventum (NYSE:SOLV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.24. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.12 billion. During the same period in the prior year, the company posted $1.56 earnings per share. Solventum's revenue for the quarter was up 3.8% compared to the same quarter last year. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. On average, research analysts expect that Solventum will post 6.58 EPS for the current year.

Insider Activity

In other Solventum news, major shareholder Co 3M sold 8,800,000 shares of Solventum stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $73.45, for a total transaction of $646,360,000.00. Following the transaction, the insider owned 25,569,190 shares of the company's stock, valued at $1,878,057,005.50. The trade was a 25.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.05% of the company's stock.

Hedge Funds Weigh In On Solventum

Several hedge funds have recently modified their holdings of the stock. Independent Franchise Partners LLP increased its position in Solventum by 74.2% in the second quarter. Independent Franchise Partners LLP now owns 10,141,066 shares of the company's stock worth $769,098,000 after purchasing an additional 4,320,342 shares during the last quarter. Trian Fund Management L.P. increased its position in Solventum by 18.8% during the fourth quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock valued at $559,054,000 after acquiring an additional 1,336,564 shares during the last quarter. Davis Selected Advisers increased its position in Solventum by 3.9% during the second quarter. Davis Selected Advisers now owns 5,492,661 shares of the company's stock valued at $416,563,000 after acquiring an additional 204,523 shares during the last quarter. Boston Partners increased its position in Solventum by 9.2% during the second quarter. Boston Partners now owns 3,670,757 shares of the company's stock valued at $278,363,000 after acquiring an additional 308,784 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Solventum by 1.0% during the second quarter. Geode Capital Management LLC now owns 3,563,792 shares of the company's stock valued at $269,116,000 after acquiring an additional 36,660 shares during 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.