Brown Brothers Harriman & Co. Acquires New Stake in Solventum Co. (NYSE:SOLV)

Brown Brothers Harriman & Co. acquired a new stake in shares of Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,485 shares of the company’s stock, valued at approximately $290,000.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new stake in Solventum in the first quarter worth about $30,000. Deseret Mutual Benefit Administrators purchased a new stake in Solventum in the second quarter worth about $25,000. Richard W. Paul & Associates LLC purchased a new stake in Solventum in the second quarter worth about $26,000. Family Firm Inc. purchased a new stake in Solventum in the second quarter worth about $26,000. Finally, Partnership Wealth Management LLC purchased a new stake in Solventum in the second quarter worth about $26,000.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Argus assumed coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. BTIG Research assumed coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Bank of America cut their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Solventum presently has a consensus rating of “Hold” and an average price target of $58.25.

Solventum Stock Performance

NYSE SOLV opened at $72.13 on Thursday. The company’s 50 day moving average price is $60.13. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue was up .2% on a year-over-year basis. As a group, equities analysts anticipate 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.