Financial Perspectives Inc Takes $188,000 Position in Solventum Co. (NYSE:SOLV)

Financial Perspectives Inc acquired a new position in Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,557 shares of the company’s stock, valued at approximately $188,000.

Several other hedge funds have also recently bought and sold shares of SOLV. Price T Rowe Associates Inc. MD acquired a new stake in shares of Solventum during the first quarter worth approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Solventum during the first quarter worth $5,747,000. CWM LLC acquired a new stake in Solventum during the second quarter valued at $473,000. Great Valley Advisor Group Inc. purchased a new position in Solventum in the second quarter valued at about $493,000. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Solventum during the 2nd quarter worth about $58,000.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Morgan Stanley reduced their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Argus began coverage on Solventum in a research note on Monday, June 24th. They set a “hold” rating on the stock. The Goldman Sachs Group raised their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. BTIG Research initiated coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Solventum has an average rating of “Hold” and an average target price of $58.25.

Solventum Stock Up 2.0 %

NYSE SOLV opened at $70.00 on Monday. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The firm’s 50 day moving average is $58.72. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts predict that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Solventum Company Profile

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.