The Goldman Sachs Group Issues Positive Forecast for Solventum (NYSE:SOLV) Stock Price

Solventum (NYSE:SOLV) had its price objective lifted by The Goldman Sachs Group from $63.00 to $71.00 in a report released on Monday morning,Benzinga reports. They currently have a sell rating on the stock.

Other equities research analysts also recently issued research reports about the company. Bank of America lifted their price objective on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Piper Sandler lifted their price objective on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Morgan Stanley lifted their price objective on Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Mizuho began coverage on Solventum in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective for the company. Finally, Wells Fargo & Company boosted their price target on Solventum from $73.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Solventum has an average rating of “Hold” and a consensus target price of $79.86.

Solventum Price Performance

Shares of NYSE:SOLV opened at $77.79 on Monday. The company has a market cap of $13.44 billion and a P/E ratio of 28.29. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 2.45. Solventum has a 52 week low of $47.16 and a 52 week high of $85.92. The business has a fifty day simple moving average of $73.25 and a 200-day simple moving average of $70.39.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Worldquant Millennium Advisors LLC lifted its stake in shares of Solventum by 373.6% during the third quarter. Worldquant Millennium Advisors LLC now owns 47,665 shares of the company’s stock worth $3,323,000 after purchasing an additional 37,600 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Solventum by 24.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 46,965 shares of the company’s stock worth $3,103,000 after purchasing an additional 9,333 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Solventum by 37.4% during the third quarter. The Manufacturers Life Insurance Company now owns 117,853 shares of the company’s stock worth $8,217,000 after purchasing an additional 32,051 shares in the last quarter. State Street Corp lifted its stake in shares of Solventum by 3.1% during the third quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after purchasing an additional 185,938 shares in the last quarter. Finally, Forsta AP Fonden acquired a new position in shares of Solventum during the fourth quarter worth about $1,876,000.

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.