Solventum Co. (NYSE:SOLV) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in Solventum Co. (NYSE:SOLV) by 22.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,922 shares of the company’s stock after purchasing an additional 8,730 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Solventum were worth $3,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SOLV. National Bank of Canada FI boosted its position in shares of Solventum by 4.0% during the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after acquiring an additional 236 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in shares of Solventum in the 3rd quarter valued at approximately $26,000. Mather Group LLC. purchased a new stake in shares of Solventum in the 3rd quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Solventum by 64.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,072 shares of the company’s stock valued at $75,000 after buying an additional 422 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Solventum by 8.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,737 shares of the company’s stock valued at $400,000 after buying an additional 441 shares during the period.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Morgan Stanley dropped their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. BTIG Research started coverage on shares of Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. Piper Sandler started coverage on shares of Solventum in a report on Monday, October 7th. They issued a “neutral” rating and a $71.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on shares of Solventum in a report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Solventum currently has a consensus rating of “Hold” and an average price target of $64.33.

Solventum Price Performance

Shares of Solventum stock opened at $72.46 on Friday. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The company’s fifty day moving average is $68.90 and its two-hundred day moving average is $61.64.

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 firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The business’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Solventum 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.