Solventum (NYSE:SOLV) Stock Price Expected to Rise, Piper Sandler Analyst Says

Solventum (NYSE:SOLV - Free Report) had its price objective raised by Piper Sandler from $75.00 to $84.00 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on SOLV. Morgan Stanley lifted their price target on Solventum from $60.00 to $73.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Mizuho initiated coverage on shares of Solventum in a report on Wednesday, December 4th. They issued a "neutral" rating and a $70.00 price objective for the company. Finally, Bank of America increased their target price on shares of Solventum from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $78.86.

Solventum Stock Performance

Shares of NYSE:SOLV traded down $1.21 during mid-day trading on Friday, reaching $78.95. The company had a trading volume of 1,156,791 shares, compared to its average volume of 1,448,846. The company's 50-day moving average price is $72.78 and its 200-day moving average price is $70.20. Solventum has a one year low of $47.16 and a one year high of $85.92. The firm has a market cap of $13.64 billion and a price-to-earnings ratio of 28.71. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45.

Hedge Funds Weigh In On Solventum

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Solventum by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company's stock valued at $1,074,591,000 after buying an additional 75,631 shares in the last quarter. Trian Fund Management L.P. increased its holdings in shares of Solventum by 18.8% in the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company's stock valued at $559,054,000 after acquiring an additional 1,336,564 shares during the last quarter. State Street Corp raised 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 worth $425,818,000 after acquiring an additional 185,938 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Solventum by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company's stock worth $227,992,000 after purchasing an additional 112,686 shares in the last quarter. Finally, Norges Bank acquired a new position in Solventum during the fourth quarter worth approximately $203,740,000.

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.