Solventum (NYSE:SOLV - Free Report) had its price target upped by Morgan Stanley from $73.00 to $80.00 in a report issued on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.
Other equities research analysts also recently issued reports about the stock. Mizuho lifted their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday. Wells Fargo & Company lifted their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Bank of America boosted their price target on shares of Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Piper Sandler boosted their price target on shares of Solventum from $75.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group boosted their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a "sell" rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $79.86.
Read Our Latest Stock Analysis on SOLV
Solventum Price Performance
Shares of SOLV traded down $2.14 during mid-day trading on Wednesday, reaching $75.69. The company had a trading volume of 1,066,184 shares, compared to its average volume of 1,444,759. The company's 50 day simple moving average is $73.42 and its 200 day simple moving average is $70.42. Solventum has a 1-year low of $47.16 and a 1-year high of $85.92. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. The company has a market capitalization of $13.08 billion and a price-to-earnings ratio of 27.52.
Institutional Trading of Solventum
Hedge funds and other institutional investors have recently bought and sold shares of the business. Worldquant Millennium Advisors LLC increased its stake in Solventum by 373.6% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company's stock valued at $3,323,000 after purchasing an additional 37,600 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company's stock valued at $3,103,000 after purchasing an additional 9,333 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Solventum by 37.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company's stock valued at $8,217,000 after purchasing an additional 32,051 shares in the last quarter. State Street Corp increased its stake in Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company's stock valued at $425,818,000 after purchasing an additional 185,938 shares in the last quarter. Finally, Forsta AP Fonden bought a new stake in Solventum during the 4th quarter valued at $1,876,000.
About Solventum
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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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