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

Solventum (NYSE:SOLV) had its price target hoisted by Wells Fargo & Company from $73.00 to $75.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 5.33% from the stock’s current price.

SOLV has been the subject of several other research reports. Morgan Stanley raised their target price on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Piper Sandler lifted their price objective on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a report on Friday. Bank of America increased their target price on Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Mizuho started coverage on Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.71.

Solventum Trading Down 5.1 %

Shares of Solventum stock traded down $4.22 during trading hours on Friday, hitting $79.23. 1,040,618 shares of the company were exchanged, compared to its average volume of 1,000,738. The business has a 50-day moving average of $72.25 and a 200-day moving average of $69.73. Solventum has a 1 year low of $47.16 and a 1 year high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Institutional Trading of Solventum

Large investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Solventum in the 4th quarter worth about $3,472,000. GF Fund Management CO. LTD. purchased a new stake in shares of Solventum in the fourth quarter valued at about $229,000. JT Stratford LLC grew its position in shares of Solventum by 17.5% in the fourth quarter. JT Stratford LLC now owns 26,692 shares of the company’s stock valued at $1,763,000 after purchasing an additional 3,967 shares during the last quarter. Ananym Capital Management LP purchased a new position in shares of Solventum during the 4th quarter worth approximately $17,620,000. Finally, Poehling Capital Management INC. increased its stake in shares of Solventum by 271.2% during the 4th quarter. Poehling Capital Management INC. now owns 30,551 shares of the company’s stock worth $2,018,000 after purchasing an additional 22,321 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.