Solventum Co. (NYSE:SOLV) Receives $58.25 Consensus PT from Brokerages

Shares of Solventum Co. (NYSE:SOLV - Get Free Report) have been assigned an average recommendation of "Reduce" from the eight analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $58.25.

A number of analysts have issued reports on the company. Argus started coverage on Solventum in a report on Monday, June 24th. They issued a "hold" rating on the stock. Wolfe Research initiated coverage on shares of Solventum in a report on Thursday, September 26th. They set a "peer perform" rating on the stock. Morgan Stanley reduced 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. The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the company a "sell" rating in a report on Monday, August 12th. Finally, BTIG Research began coverage on Solventum in a research note on Thursday, September 5th. They issued a "neutral" rating for the company.

Institutional Trading of Solventum

Institutional investors have recently bought and sold shares of the stock. Fifth Lane Capital LP bought a new position in shares of Solventum during the first quarter valued at $826,000. Boit C F David bought a new position in Solventum during the 1st quarter valued at about $152,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Solventum in the first quarter valued at about $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Solventum during the first quarter worth about $209,000. Finally, LRI Investments LLC acquired a new stake in shares of Solventum during the first quarter worth approximately $43,000.

Solventum Price Performance

NYSE:SOLV opened at $67.30 on Wednesday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. The company has a 50 day moving average price of $63.22. Solventum has a 12 month low of $47.16 and a 12 month high of $96.05.

Solventum (NYSE:SOLV - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. The business's revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts forecast that Solventum will post 6.38 EPS for the current year.

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.