12,810 Shares in Solventum Co. (NYSE:SOLV) Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co acquired a new stake in shares of Solventum Co. (NYSE:SOLV) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,810 shares of the company’s stock, valued at approximately $677,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators acquired a new stake in shares of Solventum during the second quarter valued at approximately $25,000. Partnership Wealth Management LLC acquired a new stake in Solventum during the 2nd quarter valued at $26,000. Richard W. Paul & Associates LLC acquired a new stake in Solventum during the 2nd quarter valued at $26,000. Family Firm Inc. purchased a new stake in shares of Solventum in the second quarter valued at $26,000. Finally, M&R Capital Management Inc. acquired a new stake in shares of Solventum in the second quarter worth $27,000.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SOLV shares. BTIG Research began coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. Argus assumed coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” rating for the company. Bank of America dropped 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. Morgan Stanley decreased their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Finally, Wells Fargo & Company dropped their price target on shares of 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 given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.25.

Solventum Stock Down 3.3 %

Shares of SOLV opened at $69.95 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. The company’s 50 day simple moving average is $61.01. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts forecast that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

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.