Private Advisor Group LLC Makes New $1.14 Million Investment in Solventum Co. (NYSE:SOLV)

Private Advisor Group LLC acquired a new position in shares of Solventum Co. (NYSE:SOLV) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 21,552 shares of the company’s stock, valued at approximately $1,139,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its holdings in shares of Solventum by 4.0% in the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after buying an additional 236 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of Solventum in the 1st quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators acquired a new stake in shares of Solventum in the 2nd quarter valued at approximately $25,000. Richard W. Paul & Associates LLC acquired a new stake in shares of Solventum in the 2nd quarter valued at approximately $26,000. Finally, Family Firm Inc. acquired a new stake in shares of Solventum in the 2nd quarter valued at approximately $26,000.

Solventum Price Performance

Solventum stock opened at $70.00 on Monday. 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 business’s fifty day moving average is $58.72. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week 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, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts predict that Solventum Co. will post 6.38 earnings per share for the current year.

Wall Street Analyst Weigh In

SOLV has been the subject of several research analyst reports. Morgan Stanley dropped their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Bank of America dropped their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. BTIG Research initiated coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. The Goldman Sachs Group raised their price objective on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Finally, Wells Fargo & Company dropped their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.