Solventum (NYSE:SOLV) Shares Gap Up – Should You Buy?

Solventum Co. (NYSE:SOLV)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $76.31, but opened at $77.98. Solventum shares last traded at $79.22, with a volume of 204,317 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Mizuho raised their price target on Solventum from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Bank of America lifted their price objective on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their target price on Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Morgan Stanley boosted their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler boosted their target price on Solventum from $75.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $79.86.

Solventum Price Performance

The business has a fifty day moving average price of $74.92 and a 200-day moving average price of $71.42. 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 stock has a market capitalization of $13.66 billion and a PE ratio of 28.73.

Hedge Funds Weigh In On Solventum

A number of hedge funds and other institutional investors have recently modified their holdings of the company. DSG Capital Advisors LLC purchased a new stake in Solventum during the 4th quarter valued at about $261,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Solventum by 2.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 48,979 shares of the company’s stock valued at $3,236,000 after acquiring an additional 1,057 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Solventum during the 4th quarter valued at about $3,472,000. GF Fund Management CO. LTD. purchased a new stake in Solventum during the 4th quarter valued at about $229,000. Finally, JT Stratford LLC boosted its holdings in Solventum by 17.5% during the 4th quarter. JT Stratford LLC now owns 26,692 shares of the company’s stock valued at $1,763,000 after acquiring an additional 3,967 shares during the period.

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.