Stifel Nicolaus began coverage on shares of Solventum (NYSE:SOLV – Free Report) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $82.00 price target on the stock.
A number of other brokerages have also recently issued reports on SOLV. Wells Fargo & Company cut their target price on shares of Solventum from $69.00 to $64.00 and set an equal weight rating on the stock in a report on Friday, August 9th. Wolfe Research began coverage on Solventum in a research note on Thursday, September 26th. They issued a peer perform rating on the stock. Piper Sandler began coverage on shares of Solventum in a research note on Monday. They set a neutral rating and a $71.00 target price for the company. Morgan Stanley reduced their price objective on Solventum from $70.00 to $55.00 and set an equal weight rating for the company in a research report on Monday, July 15th. Finally, Argus assumed coverage on Solventum in a research report on Monday, June 24th. They issued a hold rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $64.33.
Get Our Latest Stock Analysis on SOLV
Solventum Price Performance
Solventum (NYSE:SOLV – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The firm’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Solventum will post 6.38 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Solventum
A number of institutional investors have recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators bought a new position in Solventum during the second quarter valued at about $25,000. Hollencrest Capital Management bought a new stake in Solventum during the second quarter worth approximately $25,000. Partnership Wealth Management LLC acquired a new position in Solventum in the second quarter worth approximately $26,000. Richard W. Paul & Associates LLC acquired a new position in shares of Solventum in the 2nd quarter worth $26,000. Finally, Family Firm Inc. acquired a new stake in shares of Solventum during the second quarter worth $26,000.
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.
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