Forsta AP Fonden Invests $1.51 Million in Solventum Co. (NYSE:SOLV)

Forsta AP Fonden purchased a new stake in shares of Solventum Co. (NYSE:SOLV) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 28,500 shares of the company’s stock, valued at approximately $1,507,000.

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

Analyst Upgrades and Downgrades

SOLV has been the subject of several recent research reports. Argus started coverage on shares of Solventum in a research note on Monday, June 24th. They set a “hold” rating for the company. Bank of America decreased their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Wells Fargo & Company reduced their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. BTIG Research started coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley cut their price objective 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 analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Solventum currently has an average rating of “Hold” and an average target price of $58.25.

Solventum Stock Performance

SOLV opened at $71.80 on Tuesday. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The firm has a fifty day simple moving average of $59.17.

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

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.