Somerset Group LLC Invests $764,000 in Solventum Co. (NYSE:SOLV)

Somerset Group LLC purchased a new position in shares of Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,456 shares of the company’s stock, valued at approximately $764,000.

A number of other large investors also recently bought and sold shares of SOLV. Davis Selected Advisers purchased a new stake in shares of Solventum during the 2nd quarter valued at $273,070,000. Nuance Investments LLC acquired a new position in Solventum in the second quarter valued at $115,829,000. Bank of New York Mellon Corp purchased a new stake in Solventum during the second quarter valued at about $48,487,000. Hsbc Holdings PLC acquired a new stake in Solventum during the second quarter worth about $31,876,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Solventum in the 2nd quarter worth about $26,480,000.

Solventum Stock Performance

Shares of SOLV stock opened at $72.13 on Thursday. Solventum Co. has a twelve month low of $47.16 and a twelve month 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. The company has a fifty day moving average price of $60.13.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. BTIG Research began coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. Bank of America decreased their price objective on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Morgan Stanley cut 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 note on Monday, July 15th. Argus began coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. Finally, Wells Fargo & Company cut their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Solventum currently has an average rating of “Hold” and a consensus target price of $58.25.

About Solventum

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.