Texas Permanent School Fund Corp Buys New Holdings in Solventum Co. (NYSE:SOLV)

Texas Permanent School Fund Corp bought a new stake in shares of Solventum Co. (NYSE:SOLV) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 22,445 shares of the company’s stock, valued at approximately $1,187,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SOLV. Fifth Lane Capital LP bought a new stake in Solventum in the 1st quarter worth approximately $826,000. Boit C F David bought a new stake in Solventum in the 1st quarter worth approximately $152,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Solventum in the 1st quarter worth approximately $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Solventum in the 1st quarter worth approximately $209,000. Finally, LRI Investments LLC bought a new stake in Solventum in the 1st quarter worth approximately $43,000.

Analyst Ratings Changes

A number of analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Argus began coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. BTIG Research began coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating on the stock. Bank of America cut their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.25.

Solventum Stock Performance

SOLV opened at $72.32 on Friday. The firm’s fifty day simple moving average is $60.59. 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.

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