Solventum (NYSE:SOLV) Downgraded to “Hold” Rating by Wall Street Zen

Solventum (NYSE:SOLV) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research firms also recently issued reports on SOLV. BTIG Research raised shares of Solventum from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Tuesday, December 2nd. Stifel Nicolaus raised their price objective on shares of Solventum from $88.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. UBS Group reiterated a “neutral” rating on shares of Solventum in a report on Friday, November 21st. KeyCorp upgraded shares of Solventum from a “sector weight” rating to an “overweight” rating and set a $97.00 target price on the stock in a report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Solventum in a research report on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Solventum presently has an average rating of “Hold” and a consensus target price of $90.83.

Solventum Stock Performance

Shares of Solventum stock opened at $78.20 on Friday. The business has a 50-day simple moving average of $80.72 and a 200 day simple moving average of $75.93. Solventum has a one year low of $60.70 and a one year high of $88.20. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.50 and a quick ratio of 1.14. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 7.07 and a beta of 0.35.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, November 6th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.07. Solventum had a return on equity of 28.01% and a net margin of 18.13%.The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm posted $1.64 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts anticipate that Solventum will post 6.58 earnings per share for the current fiscal year.

Solventum announced that its Board of Directors has initiated a share buyback program on Thursday, November 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Solventum

Several institutional investors have recently modified their holdings of SOLV. Vanguard Group Inc. lifted its holdings in Solventum by 5.3% during the third quarter. Vanguard Group Inc. now owns 17,121,198 shares of the company’s stock worth $1,249,847,000 after acquiring an additional 867,837 shares during the period. Independent Franchise Partners LLP increased its position in shares of Solventum by 27.2% during the 3rd quarter. Independent Franchise Partners LLP now owns 12,899,240 shares of the company’s stock valued at $941,645,000 after purchasing an additional 2,758,174 shares during the last quarter. State Street Corp raised its stake in shares of Solventum by 1.8% during the 3rd quarter. State Street Corp now owns 6,220,271 shares of the company’s stock worth $454,080,000 after purchasing an additional 112,261 shares during the period. Davis Selected Advisers raised its stake in shares of Solventum by 12.7% during the 4th quarter. Davis Selected Advisers now owns 6,220,072 shares of the company’s stock worth $492,880,000 after purchasing an additional 702,461 shares during the period. Finally, Boston Partners boosted its holdings in shares of Solventum by 26.1% in the 3rd quarter. Boston Partners now owns 4,630,300 shares of the company’s stock worth $338,006,000 after buying an additional 959,543 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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.