Solventum (NYSE:SOLV) Given New $71.00 Price Target at The Goldman Sachs Group

Solventum (NYSE:SOLV) had its price objective raised by The Goldman Sachs Group from $63.00 to $71.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 9.77% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on SOLV. Piper Sandler upped their target price on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley raised their target price on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Mizuho assumed coverage on shares of Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target for the company. Bank of America lifted their price objective on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company increased their target price on shares of Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Solventum currently has a consensus rating of “Hold” and a consensus price target of $77.14.

Solventum Price Performance

SOLV traded down $1.06 on Monday, reaching $78.69. The company had a trading volume of 83,029 shares, compared to its average volume of 1,001,976. The company has a market capitalization of $13.59 billion and a P/E ratio of 28.61. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The company has a fifty day moving average of $72.51 and a 200-day moving average of $70.05. Solventum has a one year low of $47.16 and a one year high of $96.05.

Institutional Investors Weigh In On Solventum

Several hedge funds have recently made changes to their positions in SOLV. New York Life Investment Management LLC grew its position in Solventum by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 18,506 shares of the company’s stock worth $1,223,000 after purchasing an additional 136 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Solventum by 2.1% during the fourth quarter. Blue Trust Inc. now owns 7,872 shares of the company’s stock valued at $549,000 after buying an additional 161 shares in the last quarter. MML Investors Services LLC raised its position in Solventum by 3.2% during the third quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock valued at $373,000 after buying an additional 168 shares during the period. EP Wealth Advisors LLC lifted its stake in Solventum by 3.6% in the 4th quarter. EP Wealth Advisors LLC now owns 5,272 shares of the company’s stock worth $348,000 after acquiring an additional 181 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Solventum by 2.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock worth $584,000 after acquiring an additional 192 shares during the period.

About Solventum

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.