25,025 Shares in Solventum Co. (NYSE:SOLV) Acquired by Wesleyan Assurance Society

Wesleyan Assurance Society bought a new position in shares of Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 25,025 shares of the company’s stock, valued at approximately $1,324,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Nichols & Pratt Advisers LLP MA acquired a new stake in shares of Solventum during the second quarter worth approximately $325,000. Monarch Capital Management Inc. bought a new stake in Solventum during the 2nd quarter worth approximately $305,000. Family Firm Inc. acquired a new stake in Solventum during the 2nd quarter valued at $26,000. Retirement Systems of Alabama bought a new stake in shares of Solventum during the second quarter worth $1,612,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Solventum during the second quarter worth $7,652,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SOLV. The Goldman Sachs Group boosted their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Morgan Stanley dropped their target price 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. Wells Fargo & Company dropped their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Argus assumed coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. Finally, 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 research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $58.25.

Solventum Stock Performance

SOLV stock traded up $1.63 during midday trading on Friday, hitting $61.40. 642,626 shares of the company’s stock were exchanged, compared to its average volume of 2,064,733. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The stock’s fifty day moving average is $54.79.

Solventum (NYSE:SOLV) last released its quarterly earnings data 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 business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The company’s revenue was up .2% on a year-over-year basis. As a group, research analysts forecast that Solventum Co. will post 6.4 earnings per share for the current year.

About Solventum

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.