Sanctuary Advisors LLC Buys New Shares in Solventum Co. (NYSE:SOLV)

Sanctuary Advisors LLC bought a new position in Solventum Co. (NYSE:SOLV) in the second quarter, Holdings Channel.com reports. The firm bought 9,751 shares of the company’s stock, valued at approximately $516,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Solventum in the first quarter worth about $5,889,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum during the 1st quarter worth approximately $5,747,000. CWM LLC acquired a new stake in Solventum during the 2nd quarter valued at approximately $473,000. Great Valley Advisor Group Inc. purchased a new stake in shares of Solventum in the 2nd quarter valued at $493,000. Finally, First Horizon Advisors Inc. acquired a new stake in shares of Solventum in the second quarter worth $58,000.

Solventum Price Performance

Shares of SOLV stock opened at $69.76 on Wednesday. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The stock has a 50 day simple moving average of $65.28 and a 200-day simple moving average of $60.86.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share 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 analyst estimates of $2.05 billion. The business’s revenue was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Solventum Co. will post 6.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SOLV shares. BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Wolfe Research assumed coverage on Solventum in a report on Thursday, September 26th. They issued a “peer perform” rating for the company. Morgan Stanley lowered their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Wells Fargo & Company decreased their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Finally, Argus started coverage on shares of Solventum in a research note on Monday, June 24th. They set a “hold” 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.33.

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.