Copeland Capital Management LLC Purchases New Shares in Solventum Co. (NYSE:SOLV)

Copeland Capital Management LLC purchased a new stake in shares of Solventum Co. (NYSE:SOLV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 374 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Davis Selected Advisers acquired a new stake in Solventum during the second quarter valued at $273,070,000. Nuance Investments LLC acquired a new stake in Solventum during the second quarter valued at $115,829,000. Newport Trust Company LLC acquired a new stake in Solventum during the second quarter valued at $98,976,000. Baupost Group LLC MA acquired a new stake in shares of Solventum in the second quarter valued at about $96,242,000. Finally, Magnetar Financial LLC increased its stake in shares of Solventum by 2,880.8% during the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after purchasing an additional 1,440,410 shares in the last quarter.

Solventum Trading Down 0.7 %

Shares of NYSE SOLV opened at $72.61 on Wednesday. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The company has a 50-day moving average of $66.73 and a 200 day moving average of $61.10.

Solventum (NYSE:SOLV) last posted its 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 during the quarter, compared to analyst estimates of $2.05 billion. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts expect that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price for the company. Wolfe Research assumed coverage on shares of Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating for the company. Bank of America cut their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. The Goldman Sachs Group boosted their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Finally, Piper Sandler assumed coverage on shares of Solventum in a research note on Monday, October 7th. They set a “neutral” rating and a $71.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Solventum currently has a consensus rating of “Hold” and a consensus target price of $64.33.

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.