Railway Pension Investments Ltd Makes New Investment in Solventum Co. (NYSE:SOLV)

Railway Pension Investments Ltd acquired a new position in shares of Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 239,261 shares of the company’s stock, valued at approximately $12,652,000. Railway Pension Investments Ltd owned 0.14% of Solventum at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in Solventum during the second quarter valued at about $10,583,000. State of Michigan Retirement System acquired a new position in shares of Solventum in the 2nd quarter worth approximately $2,341,000. Hyman Charles D acquired a new stake in Solventum during the second quarter valued at approximately $539,000. Bank of New York Mellon Corp bought a new position in shares of Solventum in the second quarter valued at $48,487,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Solventum during the 2nd quarter worth $32,000.

Solventum Stock Performance

Shares of SOLV traded up $0.58 during mid-day trading on Tuesday, hitting $60.76. 150,181 shares of the company’s stock were exchanged, compared to its average volume of 2,036,047. 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 Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The firm’s fifty day simple moving average is $54.90.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share 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 the consensus estimate of $2.05 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts expect that Solventum Co. will post 6.4 EPS for the current fiscal year.

Analyst Ratings Changes

SOLV has been the subject of several analyst reports. Morgan Stanley reduced their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. The Goldman Sachs Group raised their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Bank of America cut their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Argus initiated coverage on shares of Solventum in a research note on Monday, June 24th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company cut their target price on shares of 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 investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, Solventum has a consensus rating of “Hold” and a consensus price target of $58.25.

Solventum 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.