Solventum Corp (NYSE:SOLV) price on current trading day, rose 0.71% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $67.74.
A look at the stock’s price movement, the close in the last trading session was $67.26, moving within a range at $67.22 and $68.41. Turning to its 52-week performance, $96.05 and $47.16 were the 52-week high and 52-week low respectively. Overall, SOLV moved 3.26% over the past month.
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Solventum Corp’s market cap currently stands at around $11.70 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Aug-08.
Analysts have a consensus estimate of 2.06B for the company’s revenue for the quarter, with a low and high estimate of 2.05B and 2.1B respectively.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 1 recommend SOLV as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SOLV’s current price about -2.19% and 6.72% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 52.67, while 7-day volatility ratio is 2.71% and 2.67% in the 30-day chart. Further, Solventum Corp (SOLV) has a beta value of 0, and an average true range (ATR) of 1.81. Analysts have given the company’s stock an average 52-week price target of $55, forecast between a low of $54 and high of $69. Looking at the price targets, the low is 20.28% off current price level while to achieve the yearly target high, price needs to move -1.86%. Nonetheless, investors will most likely welcome a 18.81% jump to $55 which is the analysts’ median price.
If we refocus on Solventum Corp (NYSE:SOLV), historical trading data shows that trading volumes averaged 1.52 over the past 10 days and 1.35 million over the past 3 months. The company’s latest data on shares outstanding shows there are 172.71 million shares.
The 19.94% of Solventum Corp’s shares are in the hands of company insiders while institutional holders own 61.56% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 5.35 million on 2024-09-13, giving us a short ratio of 4.42. Current price change has pushed the stock -15.33% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SOLV stock continues to rise going into the next quarter.
