Solventum (NYSE:SOLV) Coverage Initiated at Wolfe Research

Wolfe Research began coverage on shares of Solventum (NYSE:SOLV) in a research report report published on Thursday, MarketBeat Ratings reports. The brokerage issued a peer perform rating on the stock.

Several other research analysts have also issued reports on the company. Wells Fargo & Company lowered their target price on Solventum from $69.00 to $64.00 and set an equal weight rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the stock a sell rating in a research report on Monday, August 12th. Argus began coverage on Solventum in a research report on Monday, June 24th. They issued a hold rating for the company. Morgan Stanley lowered their price objective on Solventum from $70.00 to $55.00 and set an equal weight rating for the company in a research report on Monday, July 15th. Finally, Bank of America lowered their price objective on Solventum from $70.00 to $60.00 and set a neutral rating for the company in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, Solventum currently has an average rating of Hold and a consensus price target of $58.25.

Solventum Stock Down 0.8 %

Shares of NYSE:SOLV opened at $67.57 on Thursday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. Solventum has a 12-month low of $47.16 and a 12-month high of $96.05. The stock’s fifty day moving average is $62.70.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts forecast that Solventum will post 6.38 EPS for the current fiscal year.

Institutional Trading of Solventum

Several large investors have recently made changes to their positions in the company. Davis Selected Advisers acquired a new position in Solventum during the 2nd quarter valued at about $273,070,000. Nuance Investments LLC acquired a new position in Solventum during the 2nd quarter valued at about $115,829,000. Newport Trust Company LLC acquired a new position in Solventum during the 2nd quarter valued at about $98,976,000. Baupost Group LLC MA acquired a new position in Solventum during the 2nd quarter valued at about $96,242,000. Finally, Magnetar Financial LLC boosted its stake in Solventum by 2,880.8% during the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after purchasing an additional 1,440,410 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.