Solventum (NYSE:SOLV) Now Covered by Analysts at Wolfe Research

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

A number of other analysts also recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Solventum from $70.00 to $55.00 and set an equal weight rating for the company in a report on Monday, July 15th. Bank of America reduced their price objective on Solventum from $70.00 to $60.00 and set a neutral rating for the company in a report on Tuesday, June 25th. BTIG Research began coverage on Solventum in a research note on Thursday, September 5th. They set a neutral rating for the company. Argus started coverage on shares of Solventum in a report on Monday, June 24th. They set a hold rating on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Solventum from $69.00 to $64.00 and set an equal weight rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, Solventum currently has a consensus rating of Hold and a consensus price target of $58.25.

Solventum Stock Down 1.5 %

Solventum stock opened at $68.16 on Thursday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. The firm has a fifty day simple moving average of $62.17. Solventum has a 1-year low of $47.16 and a 1-year high of $96.05.

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

Institutional Trading of Solventum

Large investors have recently modified their holdings of the business. Davis Selected Advisers bought a new stake in shares of Solventum in the 2nd quarter worth approximately $273,070,000. Nuance Investments LLC purchased a new stake in Solventum in the second quarter worth $115,829,000. Newport Trust Company LLC bought a new stake in Solventum in the second quarter valued at $98,976,000. Baupost Group LLC MA purchased a new position in Solventum during the 2nd quarter valued at $96,242,000. Finally, Magnetar Financial LLC lifted its position in shares of Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after purchasing an additional 1,440,410 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.