Kentucky Retirement Systems Acquires Shares of 10,412 Solventum Co. (NYSE:SOLV)

Kentucky Retirement Systems bought a new position in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,412 shares of the company’s stock, valued at approximately $551,000.

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

Solventum Stock Performance

Shares of SOLV stock 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 fifty 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.

Solventum (NYSE:SOLV) last announced 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 during the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts predict that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analysts Set New Price Targets

SOLV has been the topic of several research analyst reports. BTIG Research initiated coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. Wells Fargo & Company reduced their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Bank of America cut 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. The Goldman Sachs Group increased their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Finally, Morgan Stanley decreased their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.