Victory Capital Management Inc. Acquires New Stake in Solventum Co. (NYSE:SOLV)

Victory Capital Management Inc. acquired a new stake in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 22,582 shares of the company’s stock, valued at approximately $1,194,000.

Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new position in Solventum in the first quarter valued at approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum in the first quarter valued at approximately $5,747,000. CWM LLC purchased a new position in Solventum in the second quarter valued at approximately $473,000. Great Valley Advisor Group Inc. purchased a new stake in shares of Solventum during the second quarter worth $493,000. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Solventum during the second quarter worth $58,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SOLV. Morgan Stanley dropped their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Bank of America dropped 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. BTIG Research began coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating on the stock. The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company dropped 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 investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, Solventum has an average rating of “Hold” and a consensus target price of $58.25.

Solventum Trading Up 0.3 %

Shares of SOLV stock 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. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The stock has a fifty day simple moving average of $60.59.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. The company’s revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Solventum Co. will post 6.38 earnings per share for the current 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.