Solventum (NYSE:SOLV) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Solventum (NYSE:SOLV) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on SOLV. Weiss Ratings restated a “hold (c)” rating on shares of Solventum in a report on Thursday, October 30th. BTIG Research upgraded Solventum from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Tuesday. Jefferies Financial Group began coverage on Solventum in a research note on Thursday, September 11th. They issued a “hold” rating and a $80.00 price target on the stock. Piper Sandler upped their price objective on Solventum from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Wells Fargo & Company raised their price objective on Solventum from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Solventum has a consensus rating of “Hold” and a consensus target price of $87.00.

Solventum Price Performance

SOLV traded down $0.59 during midday trading on Monday, hitting $85.00. The company had a trading volume of 212,180 shares, compared to its average volume of 1,077,872. Solventum has a twelve month low of $60.70 and a twelve month high of $88.20. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.14 and a current ratio of 1.50. The firm’s 50-day simple moving average is $74.25 and its 200-day simple moving average is $73.83. The company has a market capitalization of $14.74 billion, a PE ratio of 9.79, a P/E/G ratio of 9.03 and a beta of 0.26.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, November 6th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.07. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Solventum had a return on equity of 28.01% and a net margin of 18.13%.The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 earnings per share. Solventum has set its FY 2025 guidance at 5.980-6.080 EPS. Equities research analysts predict that Solventum will post 6.58 EPS for the current fiscal year.

Solventum announced that its board has approved a stock buyback plan on Thursday, November 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Solventum

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP increased its stake in shares of Solventum by 2.8% in the third quarter. Allworth Financial LP now owns 4,788 shares of the company’s stock worth $350,000 after purchasing an additional 129 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Solventum by 0.5% in the third quarter. CIBC Private Wealth Group LLC now owns 24,710 shares of the company’s stock worth $1,804,000 after buying an additional 134 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Solventum by 0.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,778 shares of the company’s stock worth $1,500,000 after acquiring an additional 140 shares during the period. BOKF NA raised its stake in shares of Solventum by 6.9% in the third quarter. BOKF NA now owns 2,193 shares of the company’s stock worth $160,000 after buying an additional 141 shares during the period. Finally, Tradition Wealth Management LLC raised its position in shares of Solventum by 1.6% during the first quarter. Tradition Wealth Management LLC now owns 8,830 shares of the company’s stock valued at $671,000 after buying an additional 143 shares during 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.