Dai ichi Life Insurance Company Ltd Invests $438,000 in Solventum Co. (NYSE:SOLV)

Dai ichi Life Insurance Company Ltd acquired a new stake in shares of Solventum Co. (NYSE:SOLV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,287 shares of the company’s stock, valued at approximately $438,000.

Several other large investors have also recently added to or reduced their stakes in SOLV. Price T Rowe Associates Inc. MD acquired a new stake in shares of Solventum during the 1st quarter valued at about $5,889,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Solventum during the first quarter valued at approximately $5,747,000. CWM LLC acquired a new stake in Solventum in the second quarter valued at approximately $473,000. Great Valley Advisor Group Inc. acquired a new stake in Solventum in the second quarter valued at approximately $493,000. Finally, First Horizon Advisors Inc. bought a new stake in Solventum in the second quarter worth approximately $58,000.

Solventum Trading Up 2.6 %

Shares of SOLV stock opened at $71.80 on Tuesday. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $59.17.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating 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% on a year-over-year basis. As a group, sell-side analysts expect that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SOLV shares. Wells Fargo & Company reduced their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Argus started coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. Bank of America decreased their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Finally, Morgan Stanley dropped their price target 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. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Solventum presently has a consensus rating of “Hold” and a consensus 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.