Solventum (NYSE:SOLV) Given New $84.00 Price Target at Piper Sandler

Solventum (NYSE:SOLV) had its price objective boosted by Piper Sandler from $75.00 to $84.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 0.65% from the company’s current price.

Several other equities analysts also recently commented on the company. Morgan Stanley upped their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Mizuho initiated coverage on Solventum in a research report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price target on the stock. Finally, Bank of America lifted their price objective on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Solventum has an average rating of “Hold” and a consensus target price of $73.14.

Solventum Stock Performance

Shares of SOLV stock opened at $83.46 on Friday. Solventum has a 52 week low of $47.16 and a 52 week high of $96.05. The firm’s 50-day simple moving average is $72.25 and its two-hundred day simple moving average is $69.73. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45.

Institutional Trading of Solventum

A number of hedge funds and other institutional investors have recently made changes to their positions in SOLV. Wealth Enhancement Advisory Services LLC boosted its stake in Solventum by 22.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,922 shares of the company’s stock worth $3,341,000 after purchasing an additional 8,730 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Solventum by 124.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 45,626 shares of the company’s stock valued at $3,055,000 after acquiring an additional 25,304 shares during the period. State of Alaska Department of Revenue grew its stake in Solventum by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 16,075 shares of the company’s stock valued at $1,120,000 after acquiring an additional 1,085 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in Solventum during the 3rd quarter worth approximately $365,000. Finally, Diversify Wealth Management LLC bought a new stake in Solventum during the 3rd quarter worth approximately $239,000.

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.