The Goldman Sachs Group Trims Solventum (NYSE:SOLV) Target Price to $48.00

Solventum (NYSE:SOLV) had its price objective decreased by research analysts at The Goldman Sachs Group from $54.00 to $48.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 2.76% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Edward Jones started coverage on Solventum in a research note on Tuesday, April 2nd. They issued a “hold” rating on the stock. Wells Fargo & Company initiated coverage on Solventum in a research note on Monday, April 8th. They set an “equal weight” rating and a $69.00 price target for the company. Morgan Stanley assumed coverage on shares of Solventum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $70.00 price target for the company. Argus started coverage on shares of Solventum in a report on Monday, June 24th. They issued a “hold” rating on the stock. Finally, Bank of America reduced their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.75.

Solventum Trading Up 2.4 %

NYSE SOLV opened at $49.36 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.81 and a debt-to-equity ratio of 2.16. The stock has a 50-day simple moving average of $56.81. Solventum has a one year low of $47.35 and a one year high of $96.05.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, May 9th. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.41. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Analysts anticipate that Solventum will post 6.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD bought a new stake in Solventum during the 1st quarter worth approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Solventum during the 1st quarter valued at $5,747,000. Linden Thomas Advisory Services LLC bought a new stake in shares of Solventum during the 2nd quarter valued at $3,207,000. Magnetar Financial LLC bought a new position in Solventum in the 1st quarter worth $3,478,000. Finally, Alpine Global Management LLC purchased a new stake in Solventum in the 1st quarter worth $1,766,000.

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.