9,913 Shares in Solventum Co. (NYSE:SOLV) Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans purchased a new position in shares of Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,913 shares of the company’s stock, valued at approximately $524,000.

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

Solventum Trading Up 1.2 %

SOLV stock opened at $67.11 on Wednesday. The firm has a 50 day moving average of $63.99. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05.

Solventum (NYSE:SOLV) last released 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 business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts forecast that Solventum Co. will post 6.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. BTIG Research began coverage on shares of Solventum in a report on Thursday, September 5th. They issued a “neutral” rating for the company. Morgan Stanley dropped their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Argus started coverage on Solventum in a report on Monday, June 24th. They set a “hold” rating for the company. The Goldman Sachs Group boosted their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company dropped their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.33.

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.