Argus Begins Coverage on Solventum (NYSE:SOLV)

Argus assumed coverage on shares of Solventum (NYSE:SOLV) in a research report released on Monday morning, Marketbeat.com reports. The brokerage issued a hold rating on the stock.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company initiated coverage on Solventum in a research note on Monday, April 8th. They set an equal weight rating and a $69.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Solventum in a research note on Thursday, May 30th. They issued a sell rating and a $54.00 target price for the company. Bank of America assumed coverage on shares of Solventum in a research note on Friday, May 10th. They set a neutral rating and a $70.00 price target on the stock. Edward Jones began coverage on shares of Solventum in a research note on Tuesday, April 2nd. They issued a hold rating for the company. Finally, Morgan Stanley assumed coverage on shares of Solventum in a research report on Wednesday, April 10th. They set an equal weight rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $63.25.

Solventum Trading Down 1.0 %

Shares of SOLV opened at $50.76 on Monday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.33 and a current ratio of 1.81. The firm has a 50-day simple moving average of $60.00. Solventum has a fifty-two week low of $50.50 and a fifty-two week high of $96.05.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, May 9th. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.41. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Sell-side analysts predict that Solventum will post 6.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Solventum

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC acquired a new stake in Solventum in the 1st quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in shares of Solventum in the first quarter worth $43,000. Boit C F David bought a new position in Solventum during the first quarter worth $152,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Solventum during the 1st quarter valued at $209,000. Finally, Fifth Lane Capital LP bought a new stake in Solventum in the 1st quarter valued at $826,000.

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.