Waldron Private Wealth LLC Invests $72,000 in Solventum Co. (NYSE:SOLV)

Waldron Private Wealth LLC bought a new stake in Solventum Co. (NYSE:SOLV) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 1,033 shares of the company’s stock, valued at approximately $72,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Fifth Lane Capital LP acquired a new position in shares of Solventum in the first quarter worth about $826,000. Boit C F David acquired a new position in Solventum in the 1st quarter worth about $152,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum during the first quarter worth approximately $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Solventum in the first quarter valued at approximately $209,000. Finally, LRI Investments LLC purchased a new stake in shares of Solventum in the first quarter valued at approximately $43,000.

Solventum Trading Down 0.2 %

Shares of NYSE SOLV opened at $72.50 on Thursday. 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 $67.02 and a 200 day moving average of $61.18. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The firm’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SOLV has been the topic of a number of research analyst reports. Stifel Nicolaus began coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target on the stock. Morgan Stanley dropped 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. Wolfe Research assumed coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. The Goldman Sachs Group raised their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Finally, BTIG Research started coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $64.33.

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.