Wells Fargo & Company Issues Positive Forecast for Solventum (NYSE:SOLV) Stock Price

Solventum (NYSE:SOLV – Get Free Report) had its price objective hoisted by investment analysts at Wells Fargo & Company from $89.00 to $95.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 3.15% from the stock’s previous close.

A number of other research firms have also recently commented on SOLV. Stifel Nicolaus upped their price objective on Solventum from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Mizuho set a $113.00 price target on shares of Solventum in a research report on Thursday, August 6th. Canadian Imperial Bank of Commerce set a $35.00 price objective on shares of Solventum in a research note on Wednesday, October 28th. Jefferies Financial Group reissued a “buy” rating on shares of Solventum in a report on Thursday, October 8th. Finally, BTIG Research reissued a “buy” rating on shares of Solventum in a report on Friday. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.27.

Check Out Our Latest Stock Report on Solventum

Solventum Stock Performance

NYSE:SOLV traded up $4.92 during trading hours on Friday, reaching $92.10. The company had a trading volume of 303,359 shares, compared to its average volume of 1,297,570. The firm has a market cap of $15.68 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.30 and a beta of 0.69. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. The firm’s 50 day moving average price is $87.75 and its 200-day moving average price is $78.64. Solventum has a 52 week low of $62.38 and a 52 week high of $94.16.

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

Institutional Trading of Solventum

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Solventum during the 2nd quarter valued at approximately $150,066,000. Bank of America Corp DE raised its stake in Solventum by 0.6% during the 1st quarter. Bank of America Corp DE now owns 1,432,780 shares of the company’s stock worth $93,561,000 after acquiring an additional 9,083 shares during the period. Bank of New York Mellon Corp purchased a new position in Solventum during the second quarter valued at approximately $61,460,000. Dimensional Fund Advisors LP lifted its holdings in Solventum by 44.0% during the first quarter. Dimensional Fund Advisors LP now owns 774,683 shares of the company’s stock valued at $50,576,000 after purchasing an additional 236,659 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Solventum by 36.9% in the first quarter. KBC Group NV now owns 632,833 shares of the company’s stock worth $41,324,000 after purchasing an additional 170,416 shares during the period.

More 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.

Further Reading

Analyst Recommendations for Solventum (NYSE:SOLV)

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