Solventum (NYSE:SOLV) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Solventum (NYSE:SOLV) from an equal weight rating to an overweight rating in a report released on Tuesday, MarketBeat reports. The firm currently has $103.00 price target on the stock, up from their prior price target of $80.00.

Other equities analysts have also issued reports about the company. Piper Sandler upgraded Solventum from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $87.00 in a research report on Monday, May 19th. Argus raised Solventum from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Tuesday, July 1st. Finally, KeyCorp started coverage on shares of Solventum in a research report on Friday, June 6th. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $84.38.

Solventum Trading Up 1.2%

Shares of Solventum stock opened at $73.90 on Tuesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85. Solventum has a 1 year low of $52.40 and a 1 year high of $85.92. The firm has a market cap of $12.79 billion, a PE ratio of 34.21, a PEG ratio of 1.87 and a beta of 0.55. The company has a 50 day simple moving average of $74.13 and a two-hundred day simple moving average of $72.62.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 EPS. Analysts expect that Solventum will post 6.58 earnings per share for the current fiscal year.

Institutional Trading of Solventum

A number of institutional investors have recently made changes to their positions in the stock. Clarity Asset Management Inc. purchased a new stake in shares of Solventum during the fourth quarter worth about $25,000. Rossby Financial LCC bought a new position in Solventum during the 1st quarter valued at approximately $25,000. Strengthening Families & Communities LLC lifted its holdings in Solventum by 376.8% in the 1st quarter. Strengthening Families & Communities LLC now owns 329 shares of the company’s stock worth $25,000 after buying an additional 260 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Solventum in the 4th quarter worth approximately $29,000. Finally, Colonial Trust Co SC grew its position in shares of Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock worth $34,000 after buying an additional 361 shares during the last quarter.

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.