Bradley Foster & Sargent Inc. CT Takes Position in Solventum Co. (NYSE:SOLV)

Bradley Foster & Sargent Inc. CT purchased a new position in Solventum Co. (NYSE:SOLV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,973 shares of the company’s stock, valued at approximately $422,000.

Several other large investors have also recently made changes to their positions in the company. Davis Selected Advisers acquired a new stake in shares of Solventum in the second quarter valued at about $273,070,000. Nuance Investments LLC acquired a new position in shares of Solventum during the 2nd quarter worth approximately $115,829,000. Bank of New York Mellon Corp purchased a new stake in shares of Solventum in the second quarter valued at approximately $48,487,000. Dimensional Fund Advisors LP acquired a new stake in shares of Solventum in the second quarter valued at approximately $26,480,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Solventum during the second quarter worth approximately $24,533,000.

Solventum Price Performance

SOLV opened at $72.32 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The business’s 50-day moving average price is $60.59. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05.

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

Wall Street Analysts Forecast Growth

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

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.