Solventum Co. (NYSE:SOLV) Receives Average Recommendation of “Reduce” from Analysts

Solventum Co. (NYSE:SOLV) has been assigned an average recommendation of “Reduce” from the five ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $65.75.

A number of equities research analysts have weighed in on the stock. Argus assumed coverage on shares of Solventum in a report on Monday. They issued a “hold” rating for the company. The Goldman Sachs Group assumed coverage on shares of Solventum in a report on Thursday, May 30th. They issued a “sell” rating and a $54.00 price target for the company. Morgan Stanley assumed coverage on shares of Solventum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $70.00 price target for the company. Wells Fargo & Company started coverage on shares of Solventum in a report on Monday, April 8th. They issued an “equal weight” rating and a $69.00 price target for the company. Finally, Bank of America started coverage on shares of Solventum in a research note on Friday, May 10th. They set a “neutral” rating and a $70.00 price objective for the company.

Hedge Funds Weigh In On Solventum

A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC acquired a new position in shares of Solventum in the 1st quarter valued at about $30,000. LRI Investments LLC acquired a new position in Solventum in the first quarter worth approximately $43,000. Boit C F David acquired a new position in Solventum in the first quarter worth approximately $152,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Solventum in the first quarter worth approximately $209,000. Finally, Fifth Lane Capital LP acquired a new position in Solventum in the first quarter worth approximately $826,000.

Solventum Trading Down 2.7 %

Shares of SOLV opened at $52.35 on Monday. The firm has a 50-day moving average of $60.43. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.81 and a quick ratio of 1.33. Solventum has a 52-week low of $52.20 and a 52-week high of $96.05.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, May 9th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.41. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, sell-side analysts predict that Solventum will post 6.26 EPS for the current year.

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.