Hennessy Advisors Inc. Takes Position in Solventum Co. (NYSE:SOLV)

Hennessy Advisors Inc. purchased a new position in shares of Solventum Co. (NYSE:SOLV) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,725 shares of the company’s stock, valued at approximately $356,000.

Other large investors also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Solventum in the 2nd quarter worth $24,533,000. Raymond James & Associates purchased a new position in Solventum during the second quarter worth about $16,986,000. QV Investors Inc. acquired a new position in Solventum in the 2nd quarter valued at about $8,312,000. Parsons Capital Management Inc. RI purchased a new stake in shares of Solventum in the 2nd quarter valued at approximately $6,644,000. Finally, Swedbank AB acquired a new stake in shares of Solventum during the 2nd quarter worth approximately $4,711,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America decreased their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Wells Fargo & Company cut their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Morgan Stanley decreased their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Finally, Argus initiated coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $58.25.

Solventum Trading Up 2.7 %

SOLV stock opened at $61.40 on Friday. The company has a fifty day moving average price of $54.79. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Solventum Co. will post 6.4 earnings per share 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.