Solventum (NYSE:SOLV) Shares Gap Up - Time to Buy?

Shares of Solventum Co. (NYSE:SOLV - Get Free Report) gapped up prior to trading 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 trading hands.

Wall Street Analyst Weigh In

SOLV has been the subject of a number of recent research reports. Piper Sandler lifted their target price on Solventum from $75.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, February 28th. Wells Fargo & Company lifted their price target on shares of Solventum from $73.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Morgan Stanley lifted their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 5th. Bank of America lifted their price target on Solventum from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Finally, Mizuho raised their target price on Solventum from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $79.86.

Solventum Trading Up 0.6 %

The company has a 50 day simple moving average of $75.17 and a 200 day simple moving average of $71.61. 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 stock has a market capitalization of $12.87 billion and a PE ratio of 27.05.

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Hedge Funds Weigh In On Solventum

Large investors have recently modified their holdings of the business. New York Life Investment Management LLC increased its position in shares of Solventum by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 18,506 shares of the company's stock valued at $1,223,000 after buying an additional 136 shares in the last quarter. Blue Trust Inc. raised its holdings in Solventum by 2.1% in the 4th quarter. Blue Trust Inc. now owns 7,872 shares of the company's stock valued at $549,000 after acquiring an additional 161 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of Solventum by 3.2% in the 3rd quarter. MML Investors Services LLC now owns 5,345 shares of the company's stock valued at $373,000 after purchasing an additional 168 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Solventum by 3.6% during the 4th quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company's stock worth $348,000 after purchasing an additional 181 shares during the period. Finally, Avantax Advisory Services Inc. raised its holdings in Solventum by 2.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company's stock valued at $584,000 after buying an additional 192 shares during the period.

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.