PFG Investments LLC Makes New $346,000 Investment in Solventum Co. (NYSE:SOLV)

PFG Investments LLC purchased a new stake in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,543 shares of the company’s stock, valued at approximately $346,000.

A number of other institutional investors have also made changes to their positions in SOLV. Ashton Thomas Private Wealth LLC bought a new stake in Solventum during the 2nd quarter valued at approximately $211,000. Cahill Financial Advisors Inc. bought a new stake in shares of Solventum in the second quarter valued at approximately $292,000. LSV Asset Management bought a new stake in shares of Solventum in the second quarter valued at approximately $164,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Solventum in the second quarter worth $180,000. Finally, Acadian Asset Management LLC bought a new position in Solventum during the second quarter worth $1,774,000.

Solventum Price Performance

Shares of SOLV opened at $68.65 on Friday. 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 1 year low of $47.16 and a 1 year high of $96.05. The stock has a 50 day moving average of $58.32.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts forecast that Solventum Co. will post 6.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SOLV shares. Bank of America decreased 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. BTIG Research started coverage on Solventum in a report on Thursday, September 5th. They issued a “neutral” rating for the company. The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Morgan Stanley cut 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. Finally, Wells Fargo & Company decreased 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 note on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.25.

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.