865 Shares in Solventum Co. (NYSE:SOLV) Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC acquired a new stake in Solventum Co. (NYSE:SOLV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 865 shares of the company’s stock, valued at approximately $60,000.

Several other large investors also recently modified their holdings of SOLV. Fifth Lane Capital LP purchased a new position in Solventum in the first quarter valued at about $826,000. Boit C F David purchased a new position in shares of Solventum during the 1st quarter valued at approximately $152,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Solventum during the first quarter worth approximately $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Solventum in the first quarter worth $209,000. Finally, LRI Investments LLC acquired a new stake in Solventum in the first quarter valued at $43,000.

Solventum Price Performance

Shares of NYSE SOLV opened at $72.50 on Thursday. The business’s fifty day moving average price is $67.02 and its two-hundred day moving average price is $61.18. 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 1-year low of $47.16 and a 1-year high of $96.05.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts anticipate that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on SOLV. Wolfe Research initiated coverage on shares of Solventum in a report on Thursday, September 26th. They set a “peer perform” rating for the company. Stifel Nicolaus assumed coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price target for the company. BTIG Research assumed coverage on Solventum in a research note on Thursday, September 5th. They set a “neutral” rating on the stock. The Goldman Sachs Group lifted their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Finally, Piper Sandler started coverage on Solventum in a report on Monday, October 7th. They issued a “neutral” rating and a $71.00 price target for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $64.33.

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.