Ensign Peak Advisors Inc Invests $882,000 in Solventum Co. (NYSE:SOLV)

Ensign Peak Advisors Inc acquired a new position in Solventum Co. (NYSE:SOLV) in the 2nd quarter, HoldingsChannel reports. The firm acquired 16,686 shares of the company’s stock, valued at approximately $882,000.

Several other institutional investors also recently modified their holdings of the business. Deseret Mutual Benefit Administrators bought a new stake in Solventum during the second quarter worth $25,000. Hollencrest Capital Management purchased a new stake in shares of Solventum during the 2nd quarter valued at $25,000. Partnership Wealth Management LLC bought a new stake in shares of Solventum during the 2nd quarter worth $26,000. Richard W. Paul & Associates LLC purchased a new position in shares of Solventum in the 2nd quarter worth about $26,000. Finally, Family Firm Inc. bought a new position in Solventum during the second quarter valued at about $26,000.

Wall Street Analyst Weigh In

Several analysts have commented on SOLV shares. Wells Fargo & Company lowered 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 report on Friday, August 9th. Bank of America dropped their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Argus started coverage on Solventum in a research report on Monday, June 24th. They issued a “hold” rating for the company. Wolfe Research started coverage on Solventum in a research note on Thursday. They set a “peer perform” rating for the company. Finally, Morgan Stanley cut their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.25.

Solventum Trading Down 0.8 %

SOLV stock opened at $67.57 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The business’s fifty day moving average price is $62.70.

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

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.