Wall Street Zen Downgrades Solventum (NYSE:SOLV) to Hold

Solventum (NYSE:SOLV) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also commented on the company. KeyCorp raised Solventum from a “sector weight” rating to an “overweight” rating and set a $97.00 price objective on the stock in a research note on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Solventum in a research report on Tuesday, January 27th. Mizuho set a $100.00 price objective on shares of Solventum and gave the company an “outperform” rating in a research report on Tuesday, January 20th. UBS Group reiterated a “neutral” rating on shares of Solventum in a research report on Friday, November 21st. Finally, Stifel Nicolaus increased their price target on shares of Solventum from $88.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $90.83.

Solventum Stock Up 1.6%

SOLV opened at $78.20 on Friday. Solventum has a twelve month low of $60.70 and a twelve month high of $88.20. The firm has a market cap of $13.56 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 7.17 and a beta of 0.35. The firm’s 50-day simple moving average is $80.72 and its 200-day simple moving average is $75.96. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.14 and a current ratio of 1.50.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, November 6th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.07. Solventum had a net margin of 18.13% and a return on equity of 28.01%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. Equities research analysts anticipate that Solventum will post 6.58 EPS for the current fiscal year.

Solventum announced that its board has authorized a share buyback program on Thursday, November 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Solventum

A number of institutional investors have recently bought and sold shares of SOLV. Assetmark Inc. boosted its position in shares of Solventum by 21.4% in the 4th quarter. Assetmark Inc. now owns 725 shares of the company’s stock worth $57,000 after purchasing an additional 128 shares during the last quarter. Hilltop National Bank increased its stake in shares of Solventum by 71.3% in the 4th quarter. Hilltop National Bank now owns 310 shares of the company’s stock valued at $25,000 after acquiring an additional 129 shares during the last quarter. Allworth Financial LP raised its position in shares of Solventum by 2.8% in the 3rd quarter. Allworth Financial LP now owns 4,788 shares of the company’s stock valued at $350,000 after acquiring an additional 129 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Solventum by 0.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 24,710 shares of the company’s stock worth $1,804,000 after acquiring an additional 134 shares during the last quarter. Finally, BOKF NA boosted its stake in Solventum by 6.9% during the 3rd quarter. BOKF NA now owns 2,193 shares of the company’s stock worth $160,000 after acquiring an additional 141 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. The Medsurg segment is a provider of solutions including advanced wound care, I.V. site management, sterilization assurance, temperature management, surgical supplies, stethoscopes, and medical electrodes.