Signaturefd LLC Makes New Investment in Solventum Co. (NYSE:SOLV)

Signaturefd LLC purchased a new position in shares of Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,142 shares of the company’s stock, valued at approximately $60,000.

A number of other institutional investors also recently modified their holdings of the business. Fifth Lane Capital LP bought a new position in Solventum in the first quarter valued at about $826,000. Boit C F David acquired a new position in Solventum during the 1st quarter worth approximately $152,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Solventum in the 1st quarter valued at approximately $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Solventum in the first quarter valued at approximately $209,000. Finally, LRI Investments LLC bought a new stake in shares of Solventum during the first quarter worth $43,000.

Solventum Stock Performance

Shares of SOLV opened at $65.11 on Thursday. The business’s 50-day moving average is $56.40. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. 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 (NYSE:SOLV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (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 business’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts predict that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SOLV. Bank of America cut 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 boosted their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Morgan Stanley dropped their price objective on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Wells Fargo & Company reduced their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Finally, Argus started coverage on shares of Solventum in a research report on Monday, June 24th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Solventum has an average rating of “Hold” and an average target price of $58.25.

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.