Solventum (NYSE:SOLV) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Solventum Corporation (NYSE:SOLV)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $87.84 and traded as high as $90.61. Solventum shares last traded at $89.1450, with a volume of 2,167,940 shares traded.

Analyst Ratings Changes

Several research firms have recently weighed in on SOLV. Wedbush lifted their price objective on Solventum from $94.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. BMO Capital Markets assumed coverage on shares of Solventum in a research report on Wednesday, July 8th. They set a “market perform” rating and a $81.00 target price for the company. UBS Group raised their price target on shares of Solventum from $95.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 6th. KeyCorp lifted their price target on shares of Solventum from $93.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Canadian Imperial Bank of Commerce set a $35.00 price objective on shares of Solventum in a research report on Wednesday, October 28th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.55.

Solventum Stock Performance

The stock has a 50 day simple moving average of $87.84 and a 200 day simple moving average of $78.60. The company has a market cap of $15.17 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.24 and a beta of 0.69. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.00.

Solventum (NYSE:SOLV) last issued its earnings results on Wednesday, August 5th. The company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.64. Solventum had a return on equity of 25.09% and a net margin of 17.26%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the business earned $1.69 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts predict that Solventum Corporation will post 7.21 EPS for the current year.

Hedge Funds Weigh In On Solventum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clearstead Trust LLC grew its position in Solventum by 61.0% in the first quarter. Clearstead Trust LLC now owns 396 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in shares of Solventum during the third quarter worth $29,000. JNBA Financial Advisors lifted its position in shares of Solventum by 71.9% during the second quarter. JNBA Financial Advisors now owns 507 shares of the company’s stock worth $39,000 after purchasing an additional 212 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Solventum in the second quarter valued at $47,000. Finally, Ancora Advisors LLC purchased a new position in shares of Solventum in the second quarter valued at $56,000.

Solventum Company Profile

Solventum Corporation (NYSE: SOLV) is a global healthcare company that develops products and solutions intended to improve patient care, support healthcare professionals and enhance the efficiency of healthcare systems. Its offerings serve hospitals, clinics, dental practices, laboratories, manufacturers and other healthcare-related organizations.

The company’s portfolio includes medical and surgical products such as wound-care systems, dressings, skin-protection products, sterilization assurance products and solutions used in operating rooms.