Solventum (NYSE:SOLV) Trading Down 6.7% – Here’s What Happened
by Jessica Moore · The Cerbat GemSolventum Corporation (NYSE:SOLV – Get Free Report)’s stock price dropped 6.7% during trading on Tuesday . The company traded as low as $79.74 and last traded at $79.9350. Approximately 1,050,631 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 964,026 shares. The stock had previously closed at $85.69.
Wall Street Analyst Weigh In
Several research firms have recently commented on SOLV. UBS Group reiterated a “neutral” rating on shares of Solventum in a report on Friday, November 21st. Piper Sandler reaffirmed an “overweight” rating on shares of Solventum in a research report on Wednesday, December 17th. Zacks Research cut Solventum from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. BTIG Research upgraded Solventum from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Tuesday, December 2nd. Finally, Stifel Nicolaus raised their price target on Solventum from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Solventum currently has a consensus rating of “Hold” and a consensus target price of $88.64.
View Our Latest Stock Report on SOLV
Solventum Stock Performance
The business has a 50 day moving average price of $80.17 and a 200 day moving average price of $75.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.50 and a quick ratio of 1.14. The stock has a market capitalization of $13.88 billion, a PE ratio of 9.22, a PEG ratio of 8.57 and a beta of 0.34.
Solventum (NYSE:SOLV – Get Free Report) last announced its quarterly 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 company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Solventum had a net margin of 18.13% and a return on equity of 28.01%. Solventum’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. Solventum has set its FY 2025 guidance at 5.980-6.080 EPS. As a group, equities research analysts expect that Solventum Corporation will post 6.58 earnings per share for the current year.
Solventum announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 20th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Institutional Trading of Solventum
A number of institutional investors have recently made changes to their positions in SOLV. Nisa Investment Advisors LLC increased its holdings in Solventum by 0.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 33,974 shares of the company’s stock valued at $2,577,000 after acquiring an additional 210 shares during the last quarter. South Dakota Investment Council boosted its holdings in shares of Solventum by 3.6% during the 2nd quarter. South Dakota Investment Council now owns 255,625 shares of the company’s stock valued at $19,387,000 after purchasing an additional 8,960 shares during the last quarter. Chelsea Counsel Co. grew its position in shares of Solventum by 720.7% during the second quarter. Chelsea Counsel Co. now owns 10,595 shares of the company’s stock valued at $804,000 after purchasing an additional 9,304 shares in the last quarter. Purus Wealth Management LLC bought a new stake in shares of Solventum in the second quarter worth about $252,000. Finally, ST Germain D J Co. Inc. increased its holdings in shares of Solventum by 84.6% in the second quarter. ST Germain D J Co. Inc. now owns 825 shares of the company’s stock worth $63,000 after purchasing an additional 378 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.