Kayne Anderson Rudnick Investment Management LLC Buys Shares of 600 Solventum Co. (NYSE:SOLV)

Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Solventum Co. (NYSE:SOLV) in the second quarter, HoldingsChannel.com reports. The firm bought 600 shares of the company’s stock, valued at approximately $32,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ensign Peak Advisors Inc bought a new stake in shares of Solventum in the 2nd quarter valued at about $882,000. Baupost Group LLC MA purchased a new position in Solventum in the second quarter worth $96,242,000. Thrivent Financial for Lutherans acquired a new position in shares of Solventum during the second quarter worth $524,000. Sei Investments Co. purchased a new stake in shares of Solventum during the 2nd quarter valued at $1,436,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Solventum in the 2nd quarter worth $938,000.

Solventum Price Performance

SOLV stock opened at $70.04 on Wednesday. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. 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 stock’s 50-day moving average is $61.85.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SOLV. BTIG Research initiated coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Argus initiated coverage on Solventum in a research report on Monday, June 24th. They issued a “hold” rating on the stock. Morgan Stanley cut their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Bank of America lowered their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Finally, The Goldman Sachs Group raised their price target on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, Solventum has an average rating of “Hold” and an average price target of $58.25.

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.