Piper Sandler Issues Pessimistic Forecast for Solventum (NYSE:SOLV) Stock Price

Solventum (NYSE:SOLV) had its price objective lowered by Piper Sandler from $84.00 to $80.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on SOLV. The Goldman Sachs Group lifted their target price on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a report on Monday, March 3rd. Morgan Stanley lifted their price target on Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Wells Fargo & Company increased their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Bank of America raised their price target on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, Mizuho lifted their price objective on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $79.29.

Solventum Price Performance

Shares of NYSE:SOLV opened at $66.17 on Wednesday. The company’s fifty day moving average price is $72.12 and its 200 day moving average price is $71.51. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. Solventum has a 12 month low of $47.16 and a 12 month high of $85.92. The firm has a market capitalization of $11.45 billion and a P/E ratio of 24.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Modus Advisors LLC acquired a new position in Solventum during the fourth quarter valued at approximately $25,000. Clarity Asset Management Inc. acquired a new stake in Solventum during the fourth quarter valued at approximately $25,000. Rossby Financial LCC bought a new position in Solventum during the first quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in shares of Solventum in the 4th quarter worth about $26,000. Finally, Raiffeisen Bank International AG bought a new position in Solventum in the fourth quarter worth about $29,000.

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.