Solventum (NYSE:SOLV) Stock Price Expected to Rise, Bank of America Analyst Says

Solventum (NYSE:SOLV) had its target price increased by stock analysts at Bank of America from $80.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price points to a potential upside of 1.84% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Mizuho assumed coverage on shares of Solventum in a report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price target for the company. Morgan Stanley lifted their price target on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Piper Sandler boosted their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $71.86.

Solventum Stock Down 0.7 %

Shares of NYSE SOLV opened at $83.46 on Wednesday. Solventum has a 52 week low of $47.16 and a 52 week high of $96.05. The stock has a 50 day moving average price of $72.25 and a 200 day moving average price of $69.73. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Institutional Trading of Solventum

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Solventum during the fourth quarter worth $203,740,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Solventum in the 3rd quarter valued at about $125,488,000. Trian Fund Management L.P. boosted its position in Solventum by 32.9% in the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after purchasing an additional 1,765,676 shares in the last quarter. Boston Partners acquired a new stake in Solventum during the fourth quarter valued at $110,378,000. Finally, Independent Franchise Partners LLP grew its holdings in Solventum by 105.0% in the fourth quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company’s stock valued at $105,904,000 after purchasing an additional 821,272 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.