Solventum Co. (NYSE:SOLV) Receives Average Rating of “Reduce” from Analysts

Shares of Solventum Co. (NYSE:SOLV) have received a consensus rating of “Reduce” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $58.25.

Several research firms have recently weighed in on SOLV. Argus started coverage on shares of Solventum in a research note on Monday, June 24th. They issued a “hold” rating for the company. BTIG Research initiated coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Bank of America reduced their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Wolfe Research initiated coverage on Solventum in a report on Thursday, September 26th. They set a “peer perform” rating for the company. Finally, Morgan Stanley cut their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th.

Hedge Funds Weigh In On Solventum

A number of hedge funds and other institutional investors have recently bought and sold shares of SOLV. National Bank of Canada FI increased its position in shares of Solventum by 4.0% during the second quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock worth $314,000 after acquiring an additional 236 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in Solventum during the 1st quarter worth about $30,000. Hollencrest Capital Management acquired a new stake in Solventum in the 2nd quarter valued at about $25,000. Deseret Mutual Benefit Administrators purchased a new position in shares of Solventum in the 2nd quarter valued at about $25,000. Finally, Richard W. Paul & Associates LLC acquired a new position in shares of Solventum during the second quarter worth about $26,000.

Solventum Trading Down 3.5 %

Shares of Solventum stock opened at $67.30 on Wednesday. The stock’s 50 day moving average is $63.22. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. Solventum has a one year low of $47.16 and a one year high of $96.05.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The company’s revenue was up .2% on a year-over-year basis. Analysts forecast that Solventum will post 6.38 earnings per share for the current year.

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.