Wells Fargo & Company Forecasts Strong Price Appreciation for Solventum (NYSE:SOLV) Stock

Solventum (NYSE:SOLV) had its price objective boosted by Wells Fargo & Company from $79.00 to $82.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 11.69% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. KeyCorp initiated coverage on Solventum in a research report on Friday, June 6th. They issued a “sector weight” rating on the stock. Piper Sandler reissued an “overweight” rating and set a $94.00 price target (up previously from $87.00) on shares of Solventum in a research report on Friday, August 8th. Morgan Stanley upgraded Solventum from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $103.00 in a research note on Tuesday, July 15th. Argus upgraded Solventum from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Tuesday, July 1st. Finally, Wall Street Zen lowered Solventum from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 9th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.44.

Solventum Trading Up 0.0%

Shares of NYSE SOLV traded up $0.03 during trading hours on Monday, hitting $73.42. 32,217 shares of the company traded hands, compared to its average volume of 1,075,066. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 2.14. The company’s 50 day moving average price is $73.09 and its 200 day moving average price is $72.50. Solventum has a 12 month low of $60.70 and a 12 month high of $85.92.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.45 by $0.24. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. Solventum had a return on equity of 29.93% and a net margin of 4.52%.Solventum’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.56 EPS. Solventum has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities research analysts anticipate that Solventum will post 6.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Solventum

Several hedge funds and other institutional investors have recently made changes to their positions in SOLV. Independent Franchise Partners LLP lifted its position in shares of Solventum by 74.2% in the second quarter. Independent Franchise Partners LLP now owns 10,141,066 shares of the company’s stock valued at $769,098,000 after acquiring an additional 4,320,342 shares in the last quarter. Norges Bank purchased a new position in Solventum during the second quarter worth approximately $140,495,000. Boston Partners lifted its position in Solventum by 101.3% during the first quarter. Boston Partners now owns 3,361,973 shares of the company’s stock worth $255,554,000 after buying an additional 1,691,565 shares in the last quarter. Trian Fund Management L.P. lifted its position in Solventum by 18.8% during the fourth quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company’s stock worth $559,054,000 after buying an additional 1,336,564 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Solventum by 738.3% during the first quarter. Assenagon Asset Management S.A. now owns 566,623 shares of the company’s stock worth $43,086,000 after buying an additional 499,031 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.