Analysts Set Solventum Co. (NYSE:SOLV) Target Price at $68.29

Shares of Solventum Co. (NYSE:SOLV) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $68.29.

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Piper Sandler boosted their target price on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho assumed coverage on Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price target for the company.

Solventum Trading Down 0.1 %

NYSE SOLV opened at $74.73 on Tuesday. Solventum has a 1-year low of $47.16 and a 1-year high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The stock has a 50-day moving average of $70.32 and a 200-day moving average of $67.76.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, November 7th. The company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.23). The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Research analysts expect that Solventum will post 6.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Solventum

A number of institutional investors have recently bought and sold shares of the stock. Sei Investments Co. purchased a new stake in Solventum in the 2nd quarter worth $1,436,000. Thrivent Financial for Lutherans purchased a new position in shares of Solventum during the second quarter valued at about $524,000. The Manufacturers Life Insurance Company purchased a new position in shares of Solventum during the second quarter valued at about $4,537,000. Creative Planning purchased a new position in shares of Solventum during the second quarter valued at about $1,584,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Solventum during the second quarter valued at about $568,000.

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.