Klingenstein Fields & Co. LP Takes Position in Solventum Co. (NYSE:SOLV)

Klingenstein Fields & Co. LP acquired a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 30,053 shares of the company’s stock, valued at approximately $1,589,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of Solventum in the 2nd quarter valued at about $48,487,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Solventum during the 2nd quarter worth about $24,533,000. Raymond James & Associates bought a new stake in shares of Solventum during the 2nd quarter worth about $16,986,000. Railway Pension Investments Ltd bought a new stake in shares of Solventum during the 2nd quarter worth about $12,652,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Solventum during the 2nd quarter worth about $10,583,000.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SOLV. Wells Fargo & Company reduced their target price 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. Bank of America reduced their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. Morgan Stanley reduced their target price on shares of 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 lifted 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. Finally, Argus started coverage on shares of Solventum in a research note on Monday, June 24th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.25.

Solventum Price Performance

Solventum stock traded up $1.19 during midday trading on Monday, hitting $64.11. The company’s stock had a trading volume of 2,089,400 shares, compared to its average volume of 2,025,587. The company has a 50-day simple moving average of $55.60. 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 1-year low of $47.16 and a 1-year high of $96.05.

Solventum (NYSE:SOLV) last issued 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 firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The business’s revenue was up .2% on a year-over-year basis. Analysts forecast that Solventum Co. will post 6.38 EPS for the current year.

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.