Twin Lakes Capital Management LLC Acquires Shares of 557 Solventum Co. (NYSE:SOLV)

Twin Lakes Capital Management LLC acquired a new position in Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 557 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Lane Capital LP bought a new stake in shares of Solventum during the first quarter valued at approximately $826,000. Boit C F David purchased a new stake in Solventum during the 1st quarter valued at about $152,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum in the first quarter worth about $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Solventum in the first quarter worth approximately $209,000. Finally, LRI Investments LLC purchased a new stake in shares of Solventum during the first quarter valued at approximately $43,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Argus initiated coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” rating on the stock. The Goldman Sachs Group increased their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Wolfe Research assumed coverage on shares of Solventum in a research note on Thursday. They set a “peer perform” rating for the company. Finally, BTIG Research started coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.25.

Solventum Price Performance

NYSE:SOLV opened at $67.57 on Monday. The firm’s 50-day simple moving average is $62.70. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90.

Solventum (NYSE:SOLV) last released 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 company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Solventum Co. will post 6.38 EPS for the current fiscal year.

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.