Mercer Global Advisors Inc. ADV Makes New Investment in Solventum Co. (NYSE:SOLV)

Mercer Global Advisors Inc. ADV acquired a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,807 shares of the company’s stock, valued at approximately $730,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators acquired a new stake in Solventum in the 2nd quarter valued at $25,000. Partnership Wealth Management LLC acquired a new position in shares of Solventum during the second quarter valued at about $26,000. Richard W. Paul & Associates LLC bought a new stake in shares of Solventum during the second quarter worth about $26,000. Family Firm Inc. bought a new position in Solventum in the 2nd quarter valued at about $26,000. Finally, M&R Capital Management Inc. acquired a new position in Solventum during the 2nd quarter valued at about $27,000.

Solventum Trading Down 1.5 %

NYSE SOLV opened at $68.16 on Friday. The business’s fifty day simple moving average is $62.17. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. Solventum Co. has a one year low of $47.16 and a one year high of $96.05.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts predict that Solventum Co. will post 6.38 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on SOLV shares. BTIG Research assumed coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. Bank of America lowered their price target on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. 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 report on Monday, August 12th. Wells Fargo & Company reduced their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, Morgan Stanley dropped their price target 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. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.