Solventum (NYSE:SOLV) Downgraded to “Hold” Rating by Wall Street Zen

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

Several other research firms also recently weighed in on SOLV. Piper Sandler reiterated an “overweight” rating on shares of Solventum in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Solventum in a report on Tuesday, January 27th. BTIG Research upgraded shares of Solventum from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Tuesday, December 2nd. Mizuho set a $100.00 price target on shares of Solventum and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Finally, Zacks Research cut shares of Solventum from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $90.83.

Solventum Trading Up 1.6%

NYSE:SOLV opened at $78.20 on Friday. Solventum has a 12 month low of $60.70 and a 12 month high of $88.20. The company has a current ratio of 1.50, a quick ratio of 1.14 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $80.72 and its 200 day moving average is $75.93. The stock has a market capitalization of $13.56 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 7.07 and a beta of 0.35.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, November 6th. The company reported $1.50 earnings per share (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 the consensus estimate of $2.05 billion. Solventum had a return on equity of 28.01% and a net margin of 18.13%.The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the business posted $1.64 earnings per share. Sell-side analysts expect that Solventum will post 6.58 earnings per share for the current year.

Solventum declared that its board has authorized a stock buyback program on Thursday, November 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Solventum

A number of hedge funds have recently made changes to their positions in SOLV. Hilltop National Bank raised its position in Solventum by 71.3% during the fourth quarter. Hilltop National Bank now owns 310 shares of the company’s stock valued at $25,000 after purchasing an additional 129 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in Solventum during the third quarter valued at approximately $25,000. Deseret Mutual Benefit Administrators raised its stake in shares of Solventum by 78.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 370 shares of the company’s stock worth $27,000 after acquiring an additional 163 shares in the last quarter. JNBA Financial Advisors lifted its holdings in shares of Solventum by 205.4% in the 4th quarter. JNBA Financial Advisors now owns 339 shares of the company’s stock worth $27,000 after acquiring an additional 228 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Solventum in the 2nd quarter valued at $28,000.

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. 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.