SG Americas Securities LLC Acquires 9,712 Shares of Solventum Co. (NYSE:SOLV)

SG Americas Securities LLC raised its holdings in Solventum Co. (NYSE:SOLV) by 62.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 25,283 shares of the company’s stock after acquiring an additional 9,712 shares during the quarter. SG Americas Securities LLC’s holdings in Solventum were worth $1,763,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SOLV. Czech National Bank lifted its holdings in shares of Solventum by 6.9% during the third quarter. Czech National Bank now owns 28,146 shares of the company’s stock worth $1,962,000 after purchasing an additional 1,817 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in Solventum by 64.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,072 shares of the company’s stock worth $75,000 after buying an additional 422 shares during the period. Armstrong Henry H Associates Inc. bought a new stake in shares of Solventum in the 3rd quarter valued at about $221,000. Clifford Capital Partners LLC acquired a new stake in shares of Solventum in the second quarter valued at about $12,054,000. Finally, Prio Wealth Limited Partnership bought a new position in shares of Solventum during the second quarter worth about $457,000.

Solventum Stock Up 1.2 %

SOLV opened at $67.11 on Wednesday. The firm has a fifty day moving average of $63.99. Solventum Co. has a 1-year low of $47.16 and a 1-year 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.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts expect that Solventum Co. will post 6.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SOLV. Morgan Stanley reduced 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. BTIG Research started coverage on shares of Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating on the stock. Wolfe Research began coverage on shares of Solventum in a research note on Thursday, September 26th. They set a “peer perform” rating for the company. Argus started coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus began coverage on Solventum in a report on Tuesday. They set a “buy” rating and a $82.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.