Solventum Co. (NYSE:SOLV) Stock Position Lifted by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd boosted its position in shares of Solventum Co. (NYSE:SOLV) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,716 shares of the company’s stock after purchasing an additional 8,371 shares during the period. AustralianSuper Pty Ltd owned 0.08% of Solventum worth $9,532,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Fifth Lane Capital LP bought a new position in Solventum during the first quarter valued at about $826,000. Boit C F David acquired a new stake in Solventum in the 1st quarter worth approximately $152,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Solventum during the first quarter worth approximately $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Solventum during the first quarter valued at approximately $209,000. Finally, LRI Investments LLC bought a new position in shares of Solventum in the first quarter valued at approximately $43,000.

Solventum Trading Down 0.6 %

NYSE:SOLV traded down $0.42 on Thursday, reaching $73.15. The stock had a trading volume of 115,838 shares, compared to its average volume of 1,770,627. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The stock has a fifty day moving average price of $68.42 and a 200-day moving average price of $61.49.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The business’s revenue was up .2% compared to the same quarter last year. Equities analysts predict that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Piper Sandler started coverage on Solventum in a research note on Monday, October 7th. They issued a “neutral” rating and a $71.00 price objective on the stock. Stifel Nicolaus started coverage on Solventum in a report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target for the company. Wolfe Research assumed coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. The Goldman Sachs Group boosted their target price on shares of 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 reduced their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.