Toronto Dominion Bank Takes Position in Solventum Co. (NYSE:SOLV)

Toronto Dominion Bank bought a new stake in Solventum Co. (NYSE:SOLV) during the 2nd quarter, Holdings Channel reports. The fund bought 69,985 shares of the company’s stock, valued at approximately $3,701,000.

Several other hedge funds also recently modified their holdings of SOLV. Davis Selected Advisers bought a new position in shares of Solventum in the 2nd quarter valued at about $273,070,000. Nuance Investments LLC bought a new position in Solventum during the 2nd quarter worth approximately $115,829,000. Newport Trust Company LLC bought a new position in Solventum during the 2nd quarter worth approximately $98,976,000. Baupost Group LLC MA bought a new position in Solventum during the 2nd quarter worth approximately $96,242,000. Finally, Magnetar Financial LLC boosted its stake in Solventum by 2,880.8% during the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after acquiring an additional 1,440,410 shares during the last quarter.

Solventum Price Performance

Shares of NYSE SOLV opened at $67.57 on Monday. 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 12 month low of $47.16 and a 12 month high of $96.05. The business’s 50-day simple moving average is $62.70.

Solventum (NYSE:SOLV) last issued 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 business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Solventum’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts forecast that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Solventum in a research note on Thursday. They set a “peer perform” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Argus started coverage on shares of Solventum in a research report on Monday, June 24th. They issued a “hold” rating for the company. BTIG Research started coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Finally, Bank of America reduced their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Solventum presently has a consensus rating of “Hold” and an average price target of $58.25.

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.