Solventum’s (SOLV) Overweight Rating Reiterated at Piper Sandler

Solventum (NYSE:SOLV – Get Free Report)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Sandler in a report issued on Friday, Benzinga reports. They presently have a $110.00 price objective on the stock, up from their prior price objective of $105.00. Piper Sandler‘s price target would suggest a potential upside of 20.10% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Mizuho set a $113.00 target price on shares of Solventum in a research note on Thursday, August 6th. KeyCorp boosted their price target on shares of Solventum from $93.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Canadian Imperial Bank of Commerce set a $35.00 price objective on shares of Solventum in a report on Wednesday, October 28th. BTIG Research restated a “buy” rating on shares of Solventum in a report on Friday. Finally, UBS Group increased their price objective on shares of Solventum from $95.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Solventum has an average rating of “Moderate Buy” and an average target price of $88.00.

View Our Latest Report on SOLV

Solventum Stock Performance

Shares of Solventum stock opened at $91.59 on Friday. The firm has a market cap of $15.59 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.30 and a beta of 0.69. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 1.00. Solventum has a 52 week low of $62.38 and a 52 week high of $94.16. The business’s fifty day simple moving average is $87.75 and its 200-day simple moving average is $78.64.

Solventum (NYSE:SOLV – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.93 billion. Solventum had a return on equity of 25.09% and a net margin of 17.26%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the company earned $1.50 EPS. Equities analysts forecast that Solventum will post 7.21 earnings per share for the current year.

Hedge Funds Weigh In On Solventum

A number of hedge funds and other institutional investors have recently bought and sold shares of SOLV. Eurizon Capital SGR S.p.A. increased its stake in Solventum by 25.4% during the third quarter. Eurizon Capital SGR S.p.A. now owns 16,947 shares of the company’s stock worth $1,494,000 after purchasing an additional 3,431 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of Solventum by 20.1% during the third quarter. Maryland State Retirement & Pension System now owns 9,179 shares of the company’s stock worth $809,000 after purchasing an additional 1,537 shares in the last quarter. Jacobi Capital Management LLC acquired a new stake in shares of Solventum during the third quarter worth about $71,000. Keybank National Association OH boosted its stake in shares of Solventum by 10.6% in the third quarter. Keybank National Association OH now owns 36,552 shares of the company’s stock valued at $3,222,000 after purchasing an additional 3,505 shares during the period. Finally, New York Life Investment Management LLC boosted its stake in shares of Solventum by 39.7% in the third quarter. New York Life Investment Management LLC now owns 41,376 shares of the company’s stock valued at $3,647,000 after purchasing an additional 11,759 shares during the period.

Key Solventum News

Here are the key news stories impacting Solventum this week:

About Solventum

(Get Free Report)

Solventum Corporation (NYSE: SOLV) is a global healthcare company that develops products and solutions intended to improve patient care, support healthcare professionals and enhance the efficiency of healthcare systems. Its offerings serve hospitals, clinics, dental practices, laboratories, manufacturers and other healthcare-related organizations.

The company’s portfolio includes medical and surgical products such as wound-care systems, dressings, skin-protection products, sterilization assurance products and solutions used in operating rooms.

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Analyst Recommendations for Solventum (NYSE:SOLV)

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