Solventum (NYSE:SOLV) Upgraded at Argus

Solventum (NYSE:SOLV) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat reports. The firm currently has a $90.00 price objective on the stock. Argus’ price objective would suggest a potential upside of 15.07% from the company’s previous close.

A number of other brokerages also recently issued reports on SOLV. The Goldman Sachs Group upped their price objective on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a research report on Monday, March 3rd. Morgan Stanley upped their price objective on shares of Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Piper Sandler raised shares of Solventum from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $78.00 to $87.00 in a research report on Monday, May 19th. KeyCorp started coverage on shares of Solventum in a research report on Friday, June 6th. They issued a “sector weight” rating for the company. Finally, Mizuho upped their price objective on shares of Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $81.50.

Solventum Trading Up 0.4%

NYSE:SOLV opened at $78.21 on Tuesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.19 and a quick ratio of 0.85. The firm has a 50-day moving average of $72.22 and a 200-day moving average of $72.01. The company has a market cap of $13.53 billion, a PE ratio of 36.21, a PEG ratio of 1.99 and a beta of 0.55. Solventum has a one year low of $47.16 and a one year high of $85.92.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, May 8th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.19 by $0.15. Solventum had a net margin of 4.55% and a return on equity of 31.01%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts expect that Solventum will post 6.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Solventum during the 4th quarter valued at approximately $18,583,000. Perigon Wealth Management LLC lifted its stake in shares of Solventum by 3.8% during the 1st quarter. Perigon Wealth Management LLC now owns 4,352 shares of the company’s stock valued at $331,000 after buying an additional 159 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Solventum by 26.2% during the 4th quarter. Victory Capital Management Inc. now owns 67,654 shares of the company’s stock valued at $4,469,000 after buying an additional 14,065 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Solventum by 140.6% during the 1st quarter. Farther Finance Advisors LLC now owns 1,821 shares of the company’s stock valued at $139,000 after buying an additional 1,064 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in shares of Solventum by 2.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,835 shares of the company’s stock valued at $584,000 after buying an additional 192 shares in the last quarter.

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.