Oppenheimer Asset Management Inc. Makes New Investment in Solventum Co. (NYSE:SOLV)

Oppenheimer Asset Management Inc. purchased a new stake in Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,005 shares of the company’s stock, valued at approximately $318,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SOLV. National Bank of Canada FI increased its position in Solventum by 4.0% during the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after purchasing an additional 236 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of Solventum during the first quarter worth $30,000. Deseret Mutual Benefit Administrators acquired a new position in Solventum in the second quarter valued at $25,000. Richard W. Paul & Associates LLC acquired a new position in Solventum in the second quarter valued at $26,000. Finally, Family Firm Inc. acquired a new position in Solventum in the second quarter valued at $26,000.

Solventum Stock Performance

NYSE SOLV opened at $69.95 on Friday. 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 Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The firm’s 50 day moving average price is $61.01.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS 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 revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Solventum Co. will post 6.38 EPS for the current year.

Analysts Set New Price Targets

SOLV has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Argus initiated coverage on Solventum in a report on Monday, June 24th. They issued a “hold” rating for the company. Bank of America reduced their price objective 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. Wells Fargo & Company lowered their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, BTIG Research began coverage on shares of Solventum in a research note on Thursday, September 5th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, Solventum presently has an average 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.