Daiwa Securities Group Inc. Makes New Investment in Solventum Co. (NYSE:SOLV)

Daiwa Securities Group Inc. acquired a new position in shares of Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,704 shares of the company’s stock, valued at approximately $830,000.

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

Analysts Set New Price Targets

SOLV has been the topic of several recent research reports. Morgan Stanley cut their price objective on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Argus began coverage on shares of Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. BTIG Research assumed coverage on shares of Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating on the stock. Bank of America dropped their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group upped their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, Solventum presently has a consensus rating of “Hold” and a consensus price target of $58.25.

Solventum Price Performance

Shares of Solventum stock opened at $70.00 on Monday. 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 firm has a fifty day moving average of $58.72.

Solventum (NYSE:SOLV) last announced 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 during the quarter, compared to analyst estimates of $2.05 billion. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts expect that Solventum Co. will post 6.38 EPS 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.