Bank of America Boosts Solventum (NYSE:SOLV) Price Target to $85.00

Solventum (NYSE:SOLV) had its price target increased by Bank of America from $80.00 to $85.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently commented on SOLV. Mizuho initiated coverage on shares of Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price on the stock. Morgan Stanley lifted their price target on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Piper Sandler lifted their price target on shares of Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.71.

Solventum Stock Down 4.7 %

Shares of NYSE SOLV opened at $79.56 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum has a 52 week low of $47.16 and a 52 week high of $96.05. The firm’s fifty day moving average is $72.51 and its 200 day moving average is $69.88. The company has a market cap of $13.74 billion and a price-to-earnings ratio of 28.93.

Institutional Trading of Solventum

Hedge funds have recently modified their holdings of the business. Worldquant Millennium Advisors LLC boosted its holdings in shares of Solventum by 373.6% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock valued at $3,323,000 after buying an additional 37,600 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Solventum by 24.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock valued at $3,103,000 after buying an additional 9,333 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Solventum by 37.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock valued at $8,217,000 after buying an additional 32,051 shares in the last quarter. State Street Corp boosted its holdings in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after buying an additional 185,938 shares in the last quarter. Finally, Forsta AP Fonden bought a new stake in shares of Solventum during the 4th quarter valued at $1,876,000.

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.