Baupost Group LLC MA Purchases Shares of 1,820,000 Solventum Co. (NYSE:SOLV)

Baupost Group LLC MA acquired a new position in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,820,000 shares of the company’s stock, valued at approximately $96,242,000. Solventum accounts for approximately 2.6% of Baupost Group LLC MA’s holdings, making the stock its 13th biggest holding. Baupost Group LLC MA owned about 1.05% of Solventum as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Davis Selected Advisers bought a new stake in Solventum during the 2nd quarter worth approximately $273,070,000. Nuance Investments LLC purchased a new position in shares of Solventum during the 2nd quarter valued at $115,829,000. Newport Trust Company LLC purchased a new position in shares of Solventum during the 2nd quarter valued at $98,976,000. Bank of New York Mellon Corp bought a new position in Solventum in the 2nd quarter worth $48,487,000. Finally, Hsbc Holdings PLC purchased a new stake in Solventum in the 2nd quarter worth $31,876,000.

Solventum Trading Down 3.3 %

NYSE SOLV opened at $69.95 on Friday. The firm’s 50 day moving average price is $61.01. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. 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 (NYSE:SOLV) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.05 billion. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts predict that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SOLV has been the topic of several research analyst reports. Morgan Stanley lowered their price objective 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. Argus assumed coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating for the company. The Goldman Sachs Group lifted their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Bank of America dropped their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company reduced their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.