The Manufacturers Life Insurance Company Invests $4.54 Million in Solventum Co. (NYSE:SOLV)

The Manufacturers Life Insurance Company bought a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 85,802 shares of the company’s stock, valued at approximately $4,537,000.

Several other institutional investors and hedge funds have also modified their holdings of SOLV. EverSource Wealth Advisors LLC acquired a new position in shares of Solventum during the 1st quarter worth approximately $30,000. Hollencrest Capital Management bought a new position in Solventum during the 2nd quarter worth $25,000. Deseret Mutual Benefit Administrators acquired a new position in Solventum in the 2nd quarter valued at $25,000. Richard W. Paul & Associates LLC bought a new stake in shares of Solventum during the 2nd quarter valued at $26,000. Finally, Family Firm Inc. acquired a new stake in shares of Solventum during the 2nd quarter worth $26,000.

Solventum Trading Down 2.1 %

Shares of NYSE:SOLV opened at $66.29 on Tuesday. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. 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 business’s fifty day moving average is $63.81.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut their price objective 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. Wolfe Research assumed coverage on shares of Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating on the stock. The Goldman Sachs Group boosted their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Bank of America reduced 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. Finally, BTIG Research began coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.80.

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.