Solventum (NYSE:SOLV) Shares Gap Up – Should You Buy?

Solventum Co. (NYSE:SOLV) shares gapped up before the market opened on Thursday . The stock had previously closed at $76.31, but opened at $77.98. Solventum shares last traded at $79.22, with a volume of 204,317 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have commented on SOLV shares. Wells Fargo & Company upped their price target on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Morgan Stanley upped their price target on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group upped their price target on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd. Bank of America upped their price target on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler increased their target price on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $79.86.

Solventum Price Performance

The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The company has a market cap of $13.66 billion and a PE ratio of 28.73. The firm has a 50 day moving average of $74.92 and a two-hundred day moving average of $71.42.

Hedge Funds Weigh In On Solventum

A number of institutional investors and hedge funds have recently modified their holdings of SOLV. Victory Capital Management Inc. raised its holdings in Solventum by 137.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,589 shares of the company’s stock worth $3,736,000 after purchasing an additional 31,007 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Solventum in the third quarter worth about $315,000. CIBC Asset Management Inc increased its holdings in shares of Solventum by 7.9% in the third quarter. CIBC Asset Management Inc now owns 19,291 shares of the company’s stock worth $1,345,000 after purchasing an additional 1,408 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Solventum by 271.4% in the third quarter. Natixis Advisors LLC now owns 47,616 shares of the company’s stock worth $3,320,000 after purchasing an additional 34,797 shares during the last quarter. Finally, Swiss National Bank grew its position in Solventum by 0.7% in the third quarter. Swiss National Bank now owns 435,709 shares of the company’s stock worth $30,378,000 after acquiring an additional 3,000 shares in the last quarter.

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.