State of New Jersey Common Pension Fund D Makes New $2.78 Million Investment in Solventum Co. (NYSE:SOLV)

State of New Jersey Common Pension Fund D acquired a new stake in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 52,504 shares of the company’s stock, valued at approximately $2,776,000.

A number of other institutional investors have also modified their holdings of SOLV. Deseret Mutual Benefit Administrators acquired a new position in Solventum during the second quarter valued at approximately $25,000. Partnership Wealth Management LLC purchased a new position in shares of Solventum in the 2nd quarter valued at $26,000. Richard W. Paul & Associates LLC acquired a new position in shares of Solventum during the 2nd quarter valued at $26,000. Family Firm Inc. purchased a new stake in Solventum during the 2nd quarter worth $26,000. Finally, M&R Capital Management Inc. acquired a new stake in Solventum in the 2nd quarter valued at $27,000.

Solventum Price Performance

SOLV stock opened at $72.13 on Thursday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The stock’s 50 day moving average is $60.13. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Solventum’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America decreased their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Morgan Stanley lowered their price objective on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Argus initiated coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. BTIG Research assumed coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. Finally, The Goldman Sachs Group boosted 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 research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, Solventum presently has a consensus rating of “Hold” and an average target price of $58.25.

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.