Northwestern Mutual Wealth Management Co. Takes $568,000 Position in Solventum Co. (NYSE:SOLV)

Northwestern Mutual Wealth Management Co. purchased a new stake in Solventum Co. (NYSE:SOLV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,746 shares of the company’s stock, valued at approximately $568,000.

A number of other hedge funds also recently made changes to their positions in the stock. Davis Selected Advisers acquired a new stake in Solventum during the 2nd quarter worth approximately $273,070,000. Nuance Investments LLC acquired a new stake in Solventum during the 2nd quarter worth approximately $115,829,000. Newport Trust Company LLC acquired a new stake in Solventum during the 2nd quarter worth approximately $98,976,000. Baupost Group LLC MA acquired a new stake in Solventum during the 2nd quarter worth approximately $96,242,000. Finally, Magnetar Financial LLC boosted its position in Solventum by 2,880.8% during the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after buying an additional 1,440,410 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on SOLV. Argus began coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. Wells Fargo & Company cut their target price 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. BTIG Research started coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating on the stock. Wolfe Research started coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. Finally, Bank of America dropped their price target 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. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.80.

Solventum Trading Down 2.1 %

NYSE:SOLV opened at $66.29 on Tuesday. The company has a fifty day moving average of $63.81. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

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. On average, sell-side analysts predict that Solventum Co. will post 6.38 EPS for the current 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.