New York State Teachers Retirement System Has $8.36 Million Stock Position in Solventum Co. (NYSE:SOLV)

New York State Teachers Retirement System reduced its position in Solventum Co. (NYSE:SOLV) by 17.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 119,880 shares of the company’s stock after selling 24,829 shares during the period. New York State Teachers Retirement System owned about 0.07% of Solventum worth $8,358,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SOLV. Price T Rowe Associates Inc. MD bought a new position in shares of Solventum during the first quarter worth approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Solventum in the first quarter valued at approximately $5,747,000. CWM LLC bought a new position in Solventum in the second quarter valued at approximately $473,000. Great Valley Advisor Group Inc. bought a new position in Solventum in the second quarter valued at approximately $493,000. Finally, First Horizon Advisors Inc. bought a new position in Solventum in the second quarter valued at approximately $58,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective on the stock. Piper Sandler initiated coverage on shares of Solventum in a research note on Monday, October 7th. They issued a “neutral” rating and a $71.00 price objective on the stock. The Goldman Sachs Group raised their target price 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. Morgan Stanley cut their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Finally, Wells Fargo & Company cut their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $64.33.

Solventum Stock Performance

Shares of NYSE:SOLV opened at $72.46 on Monday. The firm’s fifty day moving average is $68.90 and its 200-day moving average is $61.64. 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 Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The company’s revenue was up .2% compared to the same quarter last year. Research analysts forecast that Solventum Co. will post 6.38 EPS for the current fiscal year.

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.