Geneos Wealth Management Inc. Makes New Investment in Solventum Co. (NYSE:SOLV)

Geneos Wealth Management Inc. acquired a new position in Solventum Co. (NYSE:SOLV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 873 shares of the company’s stock, valued at approximately $58,000.

Several other institutional investors have also recently made changes to their positions in the business. Modus Advisors LLC acquired a new stake in Solventum during the 4th quarter worth about $25,000. Copeland Capital Management LLC purchased a new position in Solventum during the third quarter valued at approximately $26,000. Mather Group LLC. purchased a new position in Solventum during the third quarter valued at approximately $27,000. True Wealth Design LLC lifted its holdings in Solventum by 23,550.0% in the third quarter. True Wealth Design LLC now owns 473 shares of the company’s stock valued at $33,000 after acquiring an additional 471 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in Solventum in the 3rd quarter worth approximately $35,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Mizuho assumed coverage on shares of Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 target price on the stock. Stifel Nicolaus began coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. Finally, Piper Sandler raised their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.29.

Solventum Stock Down 1.7 %

NYSE SOLV opened at $74.05 on Friday. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83. The business has a fifty day moving average price of $70.11 and a 200 day moving average price of $67.03.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.23). The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. On average, equities research analysts forecast that Solventum Co. will post 6.58 EPS for the current fiscal year.

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.