Piper Sandler Forecasts Strong Price Appreciation for Solventum (NYSE:SOLV) Stock

Solventum (NYSE:SOLV) had its price objective raised by Piper Sandler from $71.00 to $75.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also commented on the company. BTIG Research initiated coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. Wells Fargo & Company reduced their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. The Goldman Sachs Group boosted their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Finally, Morgan Stanley cut their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Solventum Trading Down 1.2 %

Shares of NYSE:SOLV opened at $71.53 on Friday. Solventum has a 52-week low of $47.16 and a 52-week high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The business’s 50 day simple moving average is $70.08 and its two-hundred day simple moving average is $62.00.

Institutional Investors Weigh In On Solventum

Institutional investors and hedge funds have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators bought a new position in shares of Solventum in the 2nd quarter worth approximately $25,000. Hollencrest Capital Management purchased a new position in Solventum during the second quarter valued at $25,000. Partnership Wealth Management LLC purchased a new position in Solventum during the second quarter valued at $26,000. Richard W. Paul & Associates LLC bought a new stake in Solventum during the second quarter valued at about $26,000. Finally, Family Firm Inc. bought a new stake in Solventum during the second quarter valued at about $26,000.

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.