Solventum (NYSE:SOLV) Raised to "Overweight" at Morgan Stanley

Solventum (NYSE:SOLV - Get Free Report) was upgraded by equities research analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research note issued on Tuesday, Marketbeat Ratings reports. The firm currently has a $103.00 price target on the stock, up from their previous price target of $80.00. Morgan Stanley's price objective would suggest a potential upside of 40.54% from the stock's current price.

Several other research analysts also recently weighed in on SOLV. KeyCorp began coverage on shares of Solventum in a research report on Friday, June 6th. They issued a "sector weight" rating on the stock. Argus upgraded 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, July 1st. Finally, Piper Sandler upgraded shares of Solventum from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $78.00 to $87.00 in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $84.38.

Solventum Stock Performance

SOLV stock traded down $0.57 on Tuesday, hitting $73.29. The company had a trading volume of 573,730 shares, compared to its average volume of 1,093,611. Solventum has a 12-month low of $52.40 and a 12-month high of $85.92. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 2.40. The stock's 50-day simple moving average is $74.13 and its 200 day simple moving average is $72.62. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of 33.93, a P/E/G ratio of 1.87 and a beta of 0.55.

Solventum (NYSE:SOLV - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.15. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The company had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.02 billion. During the same quarter last year, the company posted $2.08 earnings per share. The firm's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts expect that Solventum will post 6.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Solventum

Several institutional investors have recently bought and sold shares of SOLV. Independent Franchise Partners LLP raised its stake in Solventum by 263.1% during the first quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company's stock valued at $442,608,000 after purchasing an additional 4,217,570 shares in the last quarter. Norges Bank bought a new stake in shares of Solventum in the 4th quarter valued at approximately $203,740,000. Boston Partners lifted its stake in shares of Solventum by 101.3% in the 1st quarter. Boston Partners now owns 3,361,973 shares of the company's stock valued at $255,554,000 after purchasing an additional 1,691,565 shares during the last quarter. Trian Fund Management L.P. lifted its stake in shares of Solventum by 18.8% in the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock valued at $559,054,000 after purchasing an additional 1,336,564 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Solventum by 738.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company's stock valued at $43,086,000 after purchasing an additional 499,031 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.