Swedbank AB Boosts Stake in Solventum Co. (NYSE:SOLV)

Swedbank AB raised its stake in shares of Solventum Co. (NYSE:SOLV) by 20.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 107,197 shares of the company’s stock after purchasing an additional 18,108 shares during the period. Swedbank AB owned 0.06% of Solventum worth $7,474,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SOLV. The Goldman Sachs Group increased 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. Wolfe Research began coverage on Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating on the stock. Morgan Stanley lowered 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. Argus began coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” 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 report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.33.

Solventum Stock Up 1.4 %

NYSE SOLV opened at $72.41 on Friday. The stock has a 50 day moving average price of $65.87 and a 200-day moving average price of $61.01. Solventum Co. has a one year low of $47.16 and a one year 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 posted its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Solventum Co. will post 6.38 EPS for the current 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.