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

Solventum (NYSE:SOLV) had its price target hoisted by Piper Sandler from $75.00 to $84.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also weighed in on SOLV. Mizuho assumed coverage on shares of Solventum in a report on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price for the company. Bank of America increased their target price on shares of Solventum from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.71.

Solventum Stock Performance

Solventum stock opened at $79.56 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The firm has a 50-day moving average of $72.51 and a 200-day moving average of $69.88. The firm has a market cap of $13.74 billion and a P/E ratio of 28.93. Solventum has a 1-year low of $47.16 and a 1-year high of $96.05.

Institutional Trading of Solventum

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Modus Advisors LLC purchased a new position in shares of Solventum during the fourth quarter valued at approximately $25,000. Clarity Asset Management Inc. bought a new stake in shares of Solventum during the fourth quarter valued at approximately $25,000. Stonebridge Financial Group LLC bought a new stake in Solventum in the 4th quarter worth approximately $26,000. Raiffeisen Bank International AG bought a new stake in Solventum in the 4th quarter worth approximately $29,000. Finally, Crews Bank & Trust bought a new stake in Solventum in the 4th quarter worth approximately $32,000.

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.