Achmea Investment Management B.V. Buys New Holdings in Solventum Co. (NYSE:SOLV)

Achmea Investment Management B.V. purchased a new position in shares of Solventum Co. (NYSE:SOLV) in the second quarter, Holdings Channel reports. The fund purchased 19,765 shares of the company’s stock, valued at approximately $1,045,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. National Bank of Canada FI lifted its holdings in shares of Solventum by 4.0% in the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after buying an additional 236 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in Solventum in the 1st quarter worth approximately $30,000. Deseret Mutual Benefit Administrators acquired a new stake in shares of Solventum during the 2nd quarter worth approximately $25,000. Richard W. Paul & Associates LLC purchased a new position in shares of Solventum during the 2nd quarter valued at approximately $26,000. Finally, Family Firm Inc. acquired a new position in shares of Solventum in the 2nd quarter valued at $26,000.

Wall Street Analysts Forecast Growth

SOLV has been the topic of several analyst reports. Argus assumed coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. Wells Fargo & Company cut their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Bank of America lowered their price target on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Morgan Stanley cut their price objective 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. Finally, The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $58.25.

Solventum Trading Up 2.0 %

Shares of NYSE SOLV opened at $70.00 on Friday. The firm has a 50-day simple moving average of $58.72. 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 52 week low of $47.16 and a 52 week high of $96.05.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The company’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that Solventum Co. will post 6.38 EPS for the current fiscal year.

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.