Solventum Corp (NYSE:SOLV) price on Friday, June 13, fall -0.66% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $73.80.
A look at the stock’s price movement, the close in the last trading session was $74.29. The PE ratio in trailing twelve months stood at 34.01. Turning to its 52-week performance, $85.92 and $47.16 were the 52-week high and 52-week low respectively. Overall, SOLV moved 3.74% over the past month.
Solventum Corp’s market cap currently stands at around $12.77 billion, with investors looking forward to this quarter’s earnings report slated for in July.
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 -0.09% and 5.58% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 53.71, while 7-day volatility ratio is 0.98% and 1.40% in the 30-day chart. Further, Solventum Corp (SOLV) has a beta value of 0.69, and an average true range (ATR) of 1.84. Analysts have given the company’s stock an average 52-week price target of $78.5, forecast between a low of $75 and high of $82. Looking at the price targets, the low is -1.63% off current price level while to achieve the yearly target high, price needs to move -11.11%. Nonetheless, investors will most likely welcome a -6.37% jump to $78.5 which is the analysts’ median price.
If we refocus on Solventum Corp (NYSE:SOLV), historical trading data shows that trading volumes averaged 1.22 million over the past 3 months. The company’s latest data on shares outstanding shows there are 173.01 million shares.
The 20.00% of Solventum Corp’s shares are in the hands of company insiders while institutional holders own 67.79% of the company’s shares. Current price change has pushed the stock 11.72% 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.
