Solventum (NYSE:SOLV) Given “Overweight” Rating at Piper Sandler

Solventum (NYSE:SOLV)‘s stock had its “overweight” rating restated by research analysts at Piper Sandler in a note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $94.00 price target on the stock, up from their previous price target of $87.00. Piper Sandler’s price target indicates a potential upside of 28.17% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley raised shares of Solventum from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $80.00 to $103.00 in a research note on Tuesday, July 15th. Argus raised shares of Solventum from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Tuesday, July 1st. Finally, KeyCorp initiated coverage on shares of Solventum in a research note on Friday, June 6th. They issued a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.75.

Solventum Price Performance

SOLV stock opened at $73.34 on Friday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.22 and a quick ratio of 0.86. Solventum has a one year low of $56.69 and a one year high of $85.92. The stock has a market cap of $12.69 billion, a PE ratio of 33.95, a P/E/G ratio of 1.81 and a beta of 0.52. The firm has a 50 day simple moving average of $74.21 and a two-hundred day simple moving average of $73.00.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. Solventum had a net margin of 4.52% and a return on equity of 29.93%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the previous year, the company earned $1.56 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that Solventum will post 6.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. MTM Investment Management LLC bought a new position in Solventum in the 2nd quarter worth $40,000. Intech Investment Management LLC raised its holdings in Solventum by 570.2% in the 2nd quarter. Intech Investment Management LLC now owns 111,722 shares of the company’s stock worth $8,473,000 after purchasing an additional 95,053 shares in the last quarter. Cetera Investment Advisers raised its holdings in Solventum by 7.0% in the 2nd quarter. Cetera Investment Advisers now owns 37,202 shares of the company’s stock worth $2,821,000 after purchasing an additional 2,440 shares in the last quarter. SG Americas Securities LLC raised its holdings in Solventum by 180.9% in the 2nd quarter. SG Americas Securities LLC now owns 15,075 shares of the company’s stock worth $1,143,000 after purchasing an additional 9,709 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Solventum by 7.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,946 shares of the company’s stock worth $2,574,000 after purchasing an additional 2,340 shares in the last quarter.

Solventum Company Profile

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.