Squarepoint Ops LLC Invests $6.97 Million in Solventum Co. (NYSE:SOLV)

Squarepoint Ops LLC purchased a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 131,808 shares of the company’s stock, valued at approximately $6,970,000. Squarepoint Ops LLC owned about 0.08% of Solventum as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Lane Capital LP acquired a new position in shares of Solventum in the first quarter valued at approximately $826,000. Boit C F David bought a new position in shares of Solventum during the first quarter valued at $152,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Solventum during the first quarter worth $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Solventum in the first quarter worth $209,000. Finally, LRI Investments LLC acquired a new stake in Solventum in the first quarter valued at $43,000.

Solventum Trading Down 0.8 %

Solventum stock opened at $67.57 on Monday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. The company’s fifty day moving average is $62.70. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. Solventum’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts predict that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on SOLV. BTIG Research assumed coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating on the stock. Wolfe Research initiated coverage on shares of Solventum in a research report on Thursday. They set a “peer perform” rating for the company. 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. The Goldman Sachs Group increased 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. Finally, Bank of America dropped their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Solventum currently has a consensus rating of “Hold” and a consensus price target of $58.25.

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.