Mirae Asset Global Investments Co. Ltd. Buys 24,464 Shares of Solventum Co. (NYSE:SOLV)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Solventum Co. (NYSE:SOLV) by 175.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,429 shares of the company’s stock after acquiring an additional 24,464 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Solventum were worth $2,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SOLV shares. Stifel Nicolaus began coverage on Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating on the stock. Piper Sandler started coverage on shares of Solventum in a report on Monday, October 7th. They issued a “neutral” rating and a $71.00 price objective for the company. Finally, Morgan Stanley reduced their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $64.33.

Solventum Trading Up 0.3 %

Shares of NYSE SOLV opened at $73.57 on Thursday. The company has a 50 day simple moving average of $68.42 and a two-hundred day simple moving average of $61.49. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week 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.

Solventum (NYSE:SOLV) last posted 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 company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The firm’s revenue was up .2% on a year-over-year basis. On average, analysts forecast that Solventum Co. will post 6.38 EPS for the current 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.