Solventum (NYSE:SOLV) Upgraded at Zacks Research

Key Points

• Solventum has been upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, marking a significant shift in investor sentiment.
• The stock has seen multiple upgrades from other firms, with target prices rising to as high as $103.00 from Morgan Stanley.
• Solventum reported quarterly earnings of $1.69 per share, exceeding estimates and indicating a year-over-year revenue increase of 3.8% to $2.16 billion.

Zacks Research upgraded shares of Solventum (NYSE:SOLV - Free Report) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

A number of other research analysts have also recently issued reports on SOLV. Piper Sandler reissued an "overweight" rating and set a $94.00 price objective (up from $87.00) on shares of Solventum in a report on Friday, August 8th. Morgan Stanley upgraded Solventum from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $80.00 to $103.00 in a research report on Tuesday, July 15th. KeyCorp began coverage on Solventum in a research report on Friday, June 6th. They set a "sector weight" rating for the company. Jefferies Financial Group began coverage on Solventum in a research note on Thursday, September 11th. They set a "hold" rating and a $80.00 price objective on the stock. Finally, Argus upgraded Solventum from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Solventum presently has a consensus rating of "Hold" and a consensus price target of $85.44.

Solventum Trading Down 0.8%

NYSE SOLV traded down $0.60 on Monday, hitting $73.77. 1,491,907 shares of the company were exchanged, compared to its average volume of 1,021,429. The company's 50 day moving average price is $72.98 and its 200-day moving average price is $72.37. 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 firm has a market capitalization of $12.79 billion, a P/E ratio of 34.15, a price-to-earnings-growth ratio of 3.01 and a beta of 0.53. Solventum has a twelve month low of $60.70 and a twelve month high of $85.92.

Solventum (NYSE:SOLV - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.69 earnings per share 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 company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the prior year, the company earned $1.56 EPS. The firm's quarterly revenue was up 3.8% on a year-over-year basis. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts predict that Solventum will post 6.58 earnings per share for the current fiscal year.

Institutional Trading of Solventum

A number of institutional investors and hedge funds have recently modified their holdings of the business. Orion Porfolio Solutions LLC grew its holdings in Solventum by 0.7% during the second quarter. Orion Porfolio Solutions LLC now owns 24,295 shares of the company's stock valued at $1,843,000 after purchasing an additional 176 shares during the period. Thrivent Financial for Lutherans grew its stake in Solventum by 29.4% in the second quarter. Thrivent Financial for Lutherans now owns 12,332 shares of the company's stock worth $934,000 after purchasing an additional 2,801 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Solventum during the second quarter worth $233,000. MRP Capital Investments LLC lifted its holdings in shares of Solventum by 31.6% during the 2nd quarter. MRP Capital Investments LLC now owns 15,200 shares of the company's stock valued at $1,153,000 after purchasing an additional 3,650 shares during the last quarter. Finally, State of Wyoming purchased a new position in Solventum in the 2nd quarter worth $33,000.

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.