70,189 Shares in Solventum Co. (NYSE:SOLV) Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC acquired a new stake in Solventum Co. (NYSE:SOLV) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 70,189 shares of the company’s stock, valued at approximately $4,894,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SOLV. Price T Rowe Associates Inc. MD acquired a new stake in shares of Solventum during the 1st quarter valued at about $5,889,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Solventum during the first quarter valued at approximately $5,747,000. CWM LLC acquired a new stake in Solventum in the second quarter valued at approximately $473,000. Great Valley Advisor Group Inc. bought a new stake in Solventum in the second quarter worth approximately $493,000. Finally, First Horizon Advisors Inc. acquired a new position in shares of Solventum during the 2nd quarter worth $58,000.

Analysts Set New Price Targets

Several research firms recently issued reports on SOLV. Stifel Nicolaus started coverage on shares of Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 price objective for the company. Morgan Stanley reduced their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. BTIG Research started coverage on Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. Argus started coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. Finally, Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.33.

Solventum Price Performance

Shares of NYSE SOLV opened at $69.76 on Wednesday. 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 business’s 50 day moving average is $65.28 and its two-hundred day moving average is $60.86.

Solventum (NYSE:SOLV) last released 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 company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Solventum Co. will post 6.38 earnings per share for the current year.

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.