Solventum Co. (NYSE:SOLV) Given Consensus Recommendation of “Hold” by Analysts

Shares of Solventum Co. (NYSE:SOLV) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $68.29.

SOLV has been the subject of several research reports. Morgan Stanley increased their price objective 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. Piper Sandler increased their price target on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho initiated coverage on Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective on the stock.

Solventum Trading Up 1.2 %

Shares of NYSE:SOLV opened at $74.29 on Tuesday. The firm has a fifty day moving average price of $70.40 and a 200 day moving average price of $68.09. Solventum has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15.

Hedge Funds Weigh In On Solventum

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC bought a new stake in Solventum in the third quarter worth $125,488,000. Trian Fund Management L.P. lifted its holdings in shares of Solventum by 32.9% in the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after acquiring an additional 1,765,676 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Solventum during the 3rd quarter worth about $50,948,000. Nordea Investment Management AB grew its holdings in Solventum by 189.5% during the 4th quarter. Nordea Investment Management AB now owns 659,887 shares of the company’s stock valued at $43,902,000 after purchasing an additional 431,986 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Solventum by 4,765.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 319,628 shares of the company’s stock worth $22,284,000 after purchasing an additional 313,058 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.