MBB Public Markets I LLC Invests $536,000 in Solventum Co. (NYSE:SOLV)

MBB Public Markets I LLC acquired a new position in Solventum Co. (NYSE:SOLV) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,134 shares of the company’s stock, valued at approximately $536,000.

A number of other hedge funds have also recently added to or reduced their stakes in SOLV. Deseret Mutual Benefit Administrators purchased a new position in shares of Solventum in the second quarter worth about $25,000. Hollencrest Capital Management acquired a new position in shares of Solventum in the second quarter valued at approximately $25,000. Partnership Wealth Management LLC acquired a new position in shares of Solventum in the second quarter valued at approximately $26,000. Richard W. Paul & Associates LLC acquired a new position in shares of Solventum in the second quarter valued at approximately $26,000. Finally, Family Firm Inc. acquired a new position in shares of Solventum in the second quarter valued at approximately $26,000.

Solventum Stock Performance

NYSE:SOLV opened at $67.30 on Wednesday. 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 has a 50-day moving average price of $63.22. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The company’s quarterly revenue was up .2% on a year-over-year basis. Analysts forecast that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Wolfe Research initiated coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating for the company. Bank of America decreased their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. The Goldman Sachs Group boosted their price objective 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, Argus began coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, Solventum currently has a consensus rating of “Hold” and a consensus price target of $58.25.

Solventum 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.