Somerset Group LLC Invests $764,000 in Solventum Co. (NYSE:SOLV)

Somerset Group LLC acquired a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,456 shares of the company’s stock, valued at approximately $764,000.

Other institutional investors also recently added to or reduced their stakes in the company. Davis Selected Advisers acquired a new position in shares of Solventum during the 2nd quarter worth $273,070,000. Nuance Investments LLC acquired a new position in Solventum during the second quarter worth about $115,829,000. Bank of New York Mellon Corp purchased a new position in Solventum in the second quarter valued at about $48,487,000. Hsbc Holdings PLC purchased a new position in Solventum in the second quarter valued at about $31,876,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Solventum during the 2nd quarter valued at approximately $26,480,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SOLV shares. Morgan Stanley dropped their price objective 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. BTIG Research began coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Wells Fargo & Company cut their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Bank of America lowered their price objective on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Finally, Argus assumed coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Solventum currently has a consensus rating of “Hold” and a consensus price target of $58.25.

Solventum Stock Performance

Shares of NYSE:SOLV opened at $72.13 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The firm has a fifty day moving average of $60.13.

Solventum (NYSE:SOLV) last released its earnings results 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 firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Solventum Co. will post 6.38 EPS for the current fiscal year.

Solventum 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.