70,189 Shares in Solventum Co. (NYSE:SOLV) Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC bought a new stake in Solventum Co. (NYSE:SOLV) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 70,189 shares of the company’s stock, valued at approximately $4,894,000.

Several other hedge funds have also recently added to or reduced their stakes in SOLV. Mather Group LLC. acquired a new position in shares of Solventum during the third quarter valued at $27,000. EverSource Wealth Advisors LLC bought a new position in Solventum in the 1st quarter valued at about $30,000. Hollencrest Capital Management acquired a new position in Solventum during the 2nd quarter valued at about $25,000. Deseret Mutual Benefit Administrators bought a new stake in shares of Solventum during the 2nd quarter worth about $25,000. Finally, Richard W. Paul & Associates LLC bought a new stake in shares of Solventum during the 2nd quarter worth about $26,000.

Analyst Ratings Changes

SOLV has been the topic of a number of research analyst reports. Stifel Nicolaus started coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective on the stock. Argus initiated coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. Morgan Stanley decreased their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Bank of America dropped their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Finally, Piper Sandler assumed coverage on shares of Solventum in a research report on Monday, October 7th. They set a “neutral” rating and a $71.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $64.33.

Solventum Stock Up 0.5 %

SOLV stock opened at $69.76 on Wednesday. The firm has a 50-day moving average of $65.28 and a two-hundred day moving average of $60.86. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. Solventum Co. has a one year low of $47.16 and a one year high of $96.05.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm 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. On average, research analysts expect that Solventum Co. will post 6.38 EPS for the current year.

Solventum 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.