Solventum (NYSE:SOLV) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Solventum (NYSE:SOLV) in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $82.00 price objective on the stock.

Several other brokerages also recently commented on SOLV. Wolfe Research started coverage on shares of Solventum in a report on Thursday, September 26th. They set a peer perform rating on the stock. The Goldman Sachs Group raised their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a sell rating in a report on Monday, August 12th. Argus began coverage on shares of Solventum in a report on Monday, June 24th. They set a hold rating on the stock. BTIG Research initiated coverage on shares of Solventum in a report on Thursday, September 5th. They issued a neutral rating on the stock. Finally, Morgan Stanley decreased their target price on shares of Solventum from $70.00 to $55.00 and set an equal weight rating for the company in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $64.33.

Solventum Price Performance

Solventum stock opened at $68.10 on Tuesday. The business’s 50 day moving average price is $64.36. Solventum has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate 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. Solventum’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts predict that Solventum will post 6.38 EPS for the current fiscal year.

Institutional Trading of Solventum

A number of hedge funds have recently modified their holdings of the stock. Davis Selected Advisers bought a new position in Solventum in the 2nd quarter valued at about $273,070,000. Nuance Investments LLC bought a new position in shares of Solventum during the second quarter worth approximately $115,829,000. Newport Trust Company LLC bought a new position in shares of Solventum during the second quarter worth approximately $98,976,000. Baupost Group LLC MA acquired a new stake in Solventum during the 2nd quarter worth approximately $96,242,000. Finally, Magnetar Financial LLC boosted its stake in Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after purchasing an additional 1,440,410 shares during the period.

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.