Mather Group LLC. Makes New Investment in Solventum Co. (NYSE:SOLV)

Mather Group LLC. purchased a new stake in shares of Solventum Co. (NYSE:SOLV) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 381 shares of the company’s stock, valued at approximately $27,000.

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

Solventum Trading Up 1.8 %

SOLV stock opened at $69.39 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The business’s 50-day moving average price is $65.04. Solventum Co. has a 1 year low of $47.16 and a 1 year 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 analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SOLV shares. Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Piper Sandler initiated coverage on shares of Solventum in a research note on Monday, October 7th. They set a “neutral” rating and a $71.00 price objective on the stock. Morgan Stanley lowered their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Argus initiated coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. Finally, Wolfe Research started coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.33.

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.