Solventum (NYSE:SOLV) Now Covered by Wolfe Research

Analysts at Wolfe Research began coverage on shares of Solventum (NYSE:SOLV) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “peer perform” rating on the stock.

Other equities analysts have also issued research reports about the company. Bank of America cut their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Argus initiated coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” rating for the company. Morgan Stanley cut their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. BTIG Research started coverage on shares of Solventum in a report on Thursday, September 5th. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.25.

Solventum Trading Down 1.2 %

Shares of NYSE:SOLV opened at $69.22 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The business’s 50 day simple moving average is $61.85. Solventum has a one year low of $47.16 and a one year high of $96.05.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The firm’s revenue was up .2% on a year-over-year basis. Research analysts forecast that Solventum will post 6.38 EPS for the current fiscal year.

Institutional Trading of Solventum

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new stake in Solventum in the 1st quarter valued at approximately $30,000. Hollencrest Capital Management bought a new position in shares of Solventum during the 2nd quarter worth approximately $25,000. Deseret Mutual Benefit Administrators bought a new position in shares of Solventum during the 2nd quarter worth approximately $25,000. Richard W. Paul & Associates LLC acquired a new stake in shares of Solventum in the second quarter valued at approximately $26,000. Finally, Family Firm Inc. bought a new stake in shares of Solventum in the second quarter worth $26,000.

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.