Solventum Co. (NYSE:SOLV) Given Consensus Rating of “Hold” by Brokerages

Solventum Co. (NYSE:SOLV) has been given an average rating of “Hold” by the ten brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $79.86.

SOLV has been the topic of a number of research reports. Mizuho boosted their target price on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Wells Fargo & Company lifted their price target on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Piper Sandler upped their price objective on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Bank of America lifted their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their price target on shares of Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, March 3rd.

Solventum Stock Performance

NYSE SOLV opened at $66.23 on Friday. Solventum has a 1 year low of $47.16 and a 1 year high of $85.92. The firm has a market capitalization of $11.46 billion and a price-to-earnings ratio of 24.08. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The firm’s 50 day simple moving average is $73.41 and its 200 day simple moving average is $71.64.

Hedge Funds Weigh In On Solventum

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Solventum during the 4th quarter worth approximately $203,740,000. Boston Partners purchased a new position in shares of Solventum during the 4th quarter valued at $110,378,000. Trian Fund Management L.P. grew its stake in shares of Solventum by 18.8% during the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company’s stock worth $559,054,000 after acquiring an additional 1,336,564 shares during the period. Independent Franchise Partners LLP increased its holdings in Solventum by 105.0% in the 4th quarter. Independent Franchise Partners LLP now owns 1,603,154 shares of the company’s stock worth $105,904,000 after acquiring an additional 821,272 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Solventum by 738.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company’s stock valued at $43,086,000 after acquiring an additional 499,031 shares during the period.

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.