Solventum Raises 2025 Guidance, Gets $82 PT from Wells Fargo After $4B P&F Business Sale

Solventum Corporation (NYSE:SOLV) is one of the best new stocks to buy right now. On September 15, Wells Fargo raised the price target on Solventum to $82 from $79, while maintaining an Equal Weight rating on the shares. This sentiment by the firm was posted to reflect the sale of the company’s Purification & Filtration/P&F business. On September 2, Solventum completed the sale of its P&F business to Thermo Fisher Scientific Inc. (NYSE:TMO).

The transaction was finalized for a sale price of $4 billion in cash, before customary adjustments. The divestiture is considered an important step in Solventum’s 3-phased transformation plan, which is aimed at accelerating business transformation and delivering long-term shareholder value.

Following the closing of the transaction, Solventum will continue to provide transitional services and perform certain manufacturing and distribution activities for Thermo Fisher. Looking ahead, Solventum raised its 2025 guidance, projecting organic sales growth of 2-3% and adjusted EPS of $5.80-$5.95.

Solventum Corporation (NYSE:SOLV) is a healthcare company that develops, manufactures, and commercializes a portfolio of solutions to address critical customer and patient needs in the US and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.