Shares of Solventum Co. (NYSE:SOLV – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday after Bank of America lowered their price target on the stock from $70.00 to $60.00. Bank of America currently has a neutral rating on the stock. Solventum traded as low as $50.63 and last traded at $50.81, with a volume of 254600 shares. The stock had previously closed at $51.25.
A number of other research firms also recently weighed in on SOLV. Argus began coverage on Solventum in a research report on Monday. They issued a “hold” rating for the company. The Goldman Sachs Group initiated coverage on Solventum in a research report on Thursday, May 30th. They set a “sell” rating and a $54.00 price objective for the company. Morgan Stanley initiated coverage on Solventum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $70.00 price objective for the company. Edward Jones initiated coverage on Solventum in a research report on Tuesday, April 2nd. They set a “hold” rating for the company. Finally, Wells Fargo & Company initiated coverage on Solventum in a research report on Monday, April 8th. They set an “equal weight” rating and a $69.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.25.
Read Our Latest Stock Analysis on SOLV
Institutional Trading of Solventum
Solventum Stock Down 1.1 %
The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.33 and a current ratio of 1.81. The firm has a 50 day simple moving average of $60.00.
Solventum (NYSE:SOLV – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.41. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.99 billion. Research analysts predict that Solventum Co. will post 6.23 EPS for the current fiscal year.
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.
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