Solventum (NYSE:SOLV) Raised to Overweight at Piper Sandler

Solventum (NYSE:SOLV) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday,Finviz reports. The brokerage currently has a $87.00 price target on the stock. Piper Sandler’s price target suggests a potential upside of 17.43% from the stock’s current price.

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. Wells Fargo & Company upped their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Morgan Stanley upped their target price on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 5th. Bank of America upped their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, Mizuho upped their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Solventum presently has a consensus rating of “Hold” and a consensus price target of $80.29.

Solventum Stock Up 1.6%

SOLV opened at $74.08 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. The stock has a market cap of $12.82 billion and a price-to-earnings ratio of 34.30. Solventum has a twelve month low of $47.16 and a twelve month high of $85.92. The company’s 50-day moving average price is $69.79 and its two-hundred day moving average price is $71.26.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, May 8th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts expect that Solventum will post 6.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SOLV. Independent Franchise Partners LLP lifted its position in Solventum by 263.1% during the 1st quarter. Independent Franchise Partners LLP now owns 5,820,724 shares of the company’s stock valued at $442,608,000 after acquiring an additional 4,217,570 shares during the period. Norges Bank purchased a new position in Solventum during the 4th quarter valued at about $203,740,000. Boston Partners lifted its position in Solventum by 101.3% during the 1st quarter. Boston Partners now owns 3,361,973 shares of the company’s stock valued at $255,554,000 after acquiring an additional 1,691,565 shares during the period. Trian Fund Management L.P. increased its stake in Solventum by 18.8% during the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company’s stock valued at $559,054,000 after purchasing an additional 1,336,564 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Solventum by 738.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company’s stock valued at $43,086,000 after purchasing an additional 499,031 shares in the last quarter.

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.