Hsbc Holdings PLC Purchases Shares of 603,172 Solventum Co. (NYSE:SOLV)

Hsbc Holdings PLC purchased a new stake in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 603,172 shares of the company’s stock, valued at approximately $31,876,000. Hsbc Holdings PLC owned approximately 0.35% of Solventum as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD bought a new position in shares of Solventum in the first quarter valued at $5,889,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum during the 1st quarter worth approximately $5,747,000. CWM LLC purchased a new position in Solventum during the 2nd quarter worth approximately $473,000. Great Valley Advisor Group Inc. purchased a new position in Solventum during the 2nd quarter worth approximately $493,000. Finally, First Horizon Advisors Inc. purchased a new position in Solventum during the 2nd quarter worth approximately $58,000.

Solventum Stock Performance

Solventum stock opened at $69.95 on Friday. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The firm’s fifty day moving average is $61.01. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts forecast that Solventum Co. will post 6.38 EPS for the current year.

Wall Street Analysts Forecast Growth

SOLV has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Bank of America lowered their price objective on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Argus began coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” rating on the stock. Morgan Stanley lowered their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Finally, BTIG Research began coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, Solventum has an average rating of “Hold” and a consensus target price of $58.25.

Solventum Company 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.