Solventum (NYSE:SOLV) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Solventum (NYSE:SOLV) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

A number of other research analysts have also recently issued reports on SOLV. KeyCorp started coverage on Solventum in a research note on Friday, June 6th. They set a “sector weight” rating on the stock. Argus raised Solventum from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Tuesday, July 1st. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 price objective (up from $87.00) on shares of Solventum in a research note on Friday, August 8th. Wells Fargo & Company raised their price objective on Solventum from $75.00 to $79.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. Finally, Morgan Stanley raised Solventum from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $103.00 in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $85.75.

Solventum Trading Down 0.8%

NYSE SOLV opened at $70.87 on Friday. The stock’s 50-day simple moving average is $73.93 and its two-hundred day simple moving average is $72.89. Solventum has a twelve month low of $58.76 and a twelve month high of $85.92. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.14. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 1.73 and a beta of 0.52.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.24. Solventum had a return on equity of 29.93% and a net margin of 4.52%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the business posted $1.56 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts forecast that Solventum will post 6.58 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Co 3M sold 8,800,000 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $73.45, for a total value of $646,360,000.00. Following the sale, the insider directly owned 25,569,190 shares of the company’s stock, valued at $1,878,057,005.50. This trade represents a 25.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.05% of the stock is owned by insiders.

Institutional Trading of Solventum

Several large investors have recently modified their holdings of the business. Federated Hermes Inc. boosted its position in Solventum by 231.3% during the 4th quarter. Federated Hermes Inc. now owns 2,359 shares of the company’s stock valued at $156,000 after acquiring an additional 1,647 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Solventum during the 4th quarter valued at approximately $18,583,000. Gabelli Funds LLC boosted its position in Solventum by 15.3% during the 4th quarter. Gabelli Funds LLC now owns 3,656 shares of the company’s stock valued at $242,000 after acquiring an additional 485 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Solventum by 29.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 8,924 shares of the company’s stock valued at $590,000 after acquiring an additional 2,025 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Solventum during the 4th quarter valued at approximately $378,000.

Solventum Company Profile

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.