Cwm LLC Acquires 5,390 Shares of Solventum Co. (NYSE:SOLV)

Cwm LLC lifted its holdings in Solventum Co. (NYSE:SOLV) by 60.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,329 shares of the company’s stock after buying an additional 5,390 shares during the quarter. Cwm LLC’s holdings in Solventum were worth $999,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Mather Group LLC. bought a new position in shares of Solventum in the third quarter worth about $27,000. EverSource Wealth Advisors LLC bought a new position in Solventum in the 1st quarter worth approximately $30,000. Hollencrest Capital Management acquired a new position in Solventum during the 2nd quarter worth $25,000. Deseret Mutual Benefit Administrators bought a new position in Solventum in the 2nd quarter valued at $25,000. Finally, Richard W. Paul & Associates LLC acquired a new stake in shares of Solventum in the 2nd quarter valued at $26,000.

Solventum Trading Up 1.4 %

SOLV opened at $72.41 on Friday. The company has a fifty day simple moving average of $65.87 and a 200 day simple moving average of $61.01. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05.

Solventum (NYSE:SOLV) last announced its quarterly earnings results 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 business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley decreased their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Stifel Nicolaus assumed coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target for the company. Bank of America lowered their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. Wells Fargo & Company cut their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Finally, Argus initiated coverage on Solventum in a research note on Monday, June 24th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Solventum currently has a consensus rating of “Hold” and an average price target of $64.33.

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.