Wescott Financial Advisory Group LLC Makes New Investment in Solventum Co. (NYSE:SOLV)

Wescott Financial Advisory Group LLC acquired a new position in shares of Solventum Co. (NYSE:SOLV) in the 2nd quarter, HoldingsChannel reports. The fund acquired 3,906 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davis Selected Advisers acquired a new stake in Solventum in the 2nd quarter valued at approximately $273,070,000. Nuance Investments LLC bought a new position in Solventum during the second quarter worth $115,829,000. Newport Trust Company LLC acquired a new position in Solventum during the 2nd quarter valued at $98,976,000. Baupost Group LLC MA bought a new stake in Solventum in the 2nd quarter valued at $96,242,000. Finally, Magnetar Financial LLC grew its position in Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after purchasing an additional 1,440,410 shares during the last quarter.

Solventum Trading Down 0.1 %

Shares of Solventum stock opened at $70.04 on Wednesday. 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 12-month low of $47.16 and a 12-month high of $96.05. The stock’s 50-day moving average price is $61.85.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. Solventum’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Solventum Co. will post 6.38 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on SOLV shares. Wells Fargo & Company cut their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Morgan Stanley reduced their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group boosted their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. BTIG Research started coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. Finally, Bank of America lowered their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.