Solventum (NYSE:SOLV) Shares Gap Up – Here’s What Happened

Solventum Co. (NYSE:SOLV)’s stock price gapped up before the market opened 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 trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SOLV shares. The Goldman Sachs Group raised their price objective on Solventum from $63.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, March 3rd. Morgan Stanley raised their target price on Solventum from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. Piper Sandler boosted their price target on Solventum from $75.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Bank of America boosted their price target on Solventum from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Finally, Mizuho boosted their price target on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $79.86.

Solventum Price Performance

The business has a fifty day simple moving average of $75.17 and a two-hundred day simple moving average of $71.51. 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 cap of $12.80 billion and a PE ratio of 26.91.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Solventum by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 16,266,893 shares of the company’s stock worth $1,074,591,000 after acquiring an additional 75,631 shares during the period. Trian Fund Management L.P. grew its holdings in shares of Solventum by 18.8% during the 4th quarter. Trian Fund Management L.P. now owns 8,462,819 shares of the company’s stock worth $559,054,000 after acquiring an additional 1,336,564 shares during the period. State Street Corp grew its holdings in shares of Solventum by 3.1% during the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock worth $425,818,000 after acquiring an additional 185,938 shares during the period. Geode Capital Management LLC boosted its position in shares of Solventum by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,460,405 shares of the company’s stock worth $227,992,000 after purchasing an additional 112,686 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Solventum in the 4th quarter worth approximately $203,740,000.

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.