Blue Trust Inc. Invests $538,000 in Solventum Co. (NYSE:SOLV)

Blue Trust Inc. bought a new position in Solventum Co. (NYSE:SOLV) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,711 shares of the company’s stock, valued at approximately $538,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. acquired a new position in shares of Solventum in the third quarter worth about $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Solventum in the first quarter worth about $30,000. Hollencrest Capital Management acquired a new stake in shares of Solventum during the second quarter worth approximately $25,000. Deseret Mutual Benefit Administrators acquired a new stake in shares of Solventum during the second quarter worth approximately $25,000. Finally, Richard W. Paul & Associates LLC acquired a new stake in shares of Solventum during the second quarter worth approximately $26,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SOLV. BTIG Research began coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. Wells Fargo & Company decreased their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group raised their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Wolfe Research began coverage on shares of Solventum in a report on Thursday, September 26th. They set a “peer perform” rating for the company. Finally, Piper Sandler initiated coverage on shares of Solventum in a report on Monday, October 7th. They set a “neutral” rating and a $71.00 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $64.33.

Solventum Stock Down 0.7 %

NYSE SOLV opened at $72.61 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The company has a 50 day moving average price of $66.73 and a two-hundred day moving average price of $61.10. 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 results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate 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 EPS for the current year.

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.