Clifford Capital Partners LLC Acquires Shares of 227,946 Solventum Co. (NYSE:SOLV)

Clifford Capital Partners LLC purchased a new position in Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 227,946 shares of the company’s stock, valued at approximately $12,054,000. Solventum comprises about 2.6% of Clifford Capital Partners LLC’s investment portfolio, making the stock its 26th biggest holding. Clifford Capital Partners LLC owned 0.13% of Solventum as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Davis Selected Advisers purchased a new stake in Solventum during the 2nd quarter valued at $273,070,000. Nuance Investments LLC purchased a new stake in shares of Solventum during the second quarter valued at $115,829,000. Newport Trust Company LLC purchased a new stake in shares of Solventum during the second quarter valued at $98,976,000. Baupost Group LLC MA bought a new stake in Solventum in the 2nd quarter worth about $96,242,000. Finally, Magnetar Financial LLC lifted its stake in Solventum by 2,880.8% during the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after acquiring an additional 1,440,410 shares during the period.

Solventum Price Performance

NYSE:SOLV opened at $67.30 on Wednesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The firm’s 50-day moving average is $63.22. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts predict that Solventum Co. will post 6.38 earnings per share for the current year.

Analyst Ratings Changes

SOLV has been the subject of several research reports. BTIG Research started coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. Wolfe Research initiated coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating on the stock. Wells Fargo & Company reduced their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group raised 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, Morgan Stanley reduced their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.25.

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.