DekaBank Deutsche Girozentrale Boosts Position in Solventum Co. (NYSE:SOLV)

DekaBank Deutsche Girozentrale boosted its holdings in shares of Solventum Co. (NYSE:SOLV) by 124.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,626 shares of the company’s stock after buying an additional 25,304 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Solventum were worth $3,055,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new position in Solventum during the 1st quarter worth approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Solventum during the 1st quarter worth approximately $5,747,000. CWM LLC acquired a new stake in shares of Solventum during the 2nd quarter worth approximately $473,000. Great Valley Advisor Group Inc. acquired a new stake in shares of Solventum during the 2nd quarter worth approximately $493,000. Finally, First Horizon Advisors Inc. acquired a new stake in shares of Solventum during the 2nd quarter worth approximately $58,000.

Solventum Stock Performance

Shares of SOLV stock opened at $72.46 on Friday. The stock’s fifty day moving average is $68.90 and its two-hundred day moving average is $61.64. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Solventum (NYSE:SOLV) last announced its quarterly earnings data 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 firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts forecast that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler assumed 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 dropped their price objective on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. BTIG Research assumed coverage on shares of Solventum in a research note on Thursday, September 5th. They set a “neutral” rating on the stock. Wells Fargo & Company dropped their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Finally, Wolfe Research assumed coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Solventum has an average rating of “Hold” and an average 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.