International Assets Investment Management LLC lifted its stake in shares of Solventum Co. (NYSE:SOLV – Free Report) by 5,118.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 129,261 shares of the company’s stock after purchasing an additional 126,784 shares during the quarter. International Assets Investment Management LLC’s holdings in Solventum were worth $9,012,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in SOLV. Davis Selected Advisers acquired a new position in shares of Solventum during the 2nd quarter worth approximately $273,070,000. Nuance Investments LLC purchased a new stake in shares of Solventum during the 2nd quarter valued at approximately $115,829,000. Newport Trust Company LLC purchased a new stake in shares of Solventum during the 2nd quarter valued at approximately $98,976,000. Baupost Group LLC MA purchased a new stake in shares of Solventum during the 2nd quarter valued at approximately $96,242,000. Finally, Magnetar Financial LLC raised its position in shares of Solventum by 2,880.8% during the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares during the period.
Analysts Set New Price Targets
Several analysts have recently commented on SOLV shares. The Goldman Sachs Group lifted their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Wolfe Research started coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Piper Sandler started coverage on shares of Solventum in a research report on Monday, October 7th. They set a “neutral” rating and a $71.00 price target on the stock. Finally, Stifel Nicolaus began coverage on shares of Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $64.33.
Solventum Trading Up 0.3 %
Shares of NYSE SOLV opened at $73.57 on Thursday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The business’s 50 day moving average is $68.42 and its two-hundred day moving average is $61.49.
Solventum (NYSE:SOLV – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Solventum Co. will post 6.38 EPS for the current fiscal 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.
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