67,000 Shares in Solventum Co. (NYSE:SOLV) Bought by Factorial Partners LLC

Factorial Partners LLC bought a new stake in Solventum Co. (NYSE:SOLV) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 67,000 shares of the company’s stock, valued at approximately $3,543,000. Solventum accounts for about 2.2% of Factorial Partners LLC’s holdings, making the stock its 16th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators bought a new position in Solventum in the 2nd quarter valued at approximately $25,000. Partnership Wealth Management LLC bought a new position in shares of Solventum during the second quarter valued at $26,000. Richard W. Paul & Associates LLC acquired a new position in shares of Solventum during the second quarter worth $26,000. Family Firm Inc. acquired a new position in shares of Solventum during the second quarter worth $26,000. Finally, M&R Capital Management Inc. bought a new stake in shares of Solventum in the second quarter worth $27,000.

Solventum Stock Up 2.0 %

NYSE SOLV opened at $68.35 on Wednesday. The business’s 50 day simple moving average is $57.59. 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 one year low of $47.16 and a one year high of $96.05.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping 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 firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts predict that Solventum Co. will post 6.38 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on SOLV shares. Argus initiated coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. Wells Fargo & Company cut 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. Morgan Stanley decreased their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Bank of America dropped their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Finally, BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently 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.