Solventum (NYSE:SOLV) Stock Rating Upgraded by Wall Street Zen

Solventum (NYSE:SOLV) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

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

Solventum Price Performance

SOLV stock opened at $71.50 on Friday. The business has a 50 day moving average price of $74.02 and a 200 day moving average price of $72.94. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 1.77 and a beta of 0.52. Solventum has a fifty-two week low of $58.61 and a fifty-two week 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.

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

Institutional Investors Weigh In On Solventum

Large investors have recently modified their holdings of the stock. Independent Franchise Partners LLP grew its stake in Solventum by 74.2% during the 2nd quarter. Independent Franchise Partners LLP now owns 10,141,066 shares of the company’s stock valued at $769,098,000 after purchasing an additional 4,320,342 shares in the last quarter. Norges Bank acquired a new stake in Solventum during the 2nd quarter valued at approximately $140,495,000. Boston Partners grew its stake 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 purchasing an additional 1,691,565 shares in the last quarter. Trian Fund Management L.P. grew 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. grew 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.