Piper Sandler Begins Coverage on Solventum (NYSE:SOLV)

by · The Cerbat Gem

Piper Sandler initiated coverage on shares of Solventum (NYSE:SOLV – Free Report) in a report published on Monday, MarketBeat reports. The firm issued a neutral rating and a $71.00 target price on the stock.

SOLV has been the subject of several other reports. The Goldman Sachs Group raised their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a sell rating in a research report on Monday, August 12th. BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They set a neutral rating on the stock. Morgan Stanley lowered their price objective on Solventum from $70.00 to $55.00 and set an equal weight rating for the company in a research report on Monday, July 15th. Bank of America reduced their target price on Solventum from $70.00 to $60.00 and set a neutral rating on the stock in a research report on Tuesday, June 25th. Finally, Wolfe Research initiated coverage on Solventum in a report on Thursday, September 26th. They set a peer perform rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Solventum presently has an average rating of Hold and a consensus price target of $64.33.

View Our Latest Report on SOLV

Solventum Price Performance

SOLV opened at $69.18 on Monday. 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 business has a 50 day simple moving average of $64.15. Solventum has a 1-year low of $47.16 and a 1-year high of $96.05.

Solventum (NYSE:SOLV – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Solventum’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that Solventum will post 6.38 EPS for the current year.

Institutional Investors Weigh In On Solventum

Several large investors have recently added to or reduced their stakes in SOLV. Davis Selected Advisers purchased a new stake in shares of Solventum during the second quarter worth $273,070,000. Nuance Investments LLC acquired a new position in Solventum during the 2nd quarter worth $115,829,000. Newport Trust Company LLC purchased a new stake in Solventum during the 2nd quarter worth about $98,976,000. Baupost Group LLC MA acquired a new stake in Solventum in the 2nd quarter valued at about $96,242,000. Finally, Magnetar Financial LLC boosted its stake 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 valued at $78,813,000 after buying an additional 1,440,410 shares during the period.

About Solventum

(Get Free Report)

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.

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