Affiance Financial LLC Invests $210,000 in Solventum Co. (NYSE:SOLV)

Affiance Financial LLC bought a new position in shares of Solventum Co. (NYSE:SOLV) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,013 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SOLV. Davis Selected Advisers purchased a new position in shares of Solventum during the second quarter valued at $273,070,000. Nuance Investments LLC purchased a new position in shares of Solventum during the second quarter valued at $115,829,000. Newport Trust Company LLC purchased a new position in shares of Solventum during the second quarter valued at $98,976,000. Baupost Group LLC MA purchased a new position in shares of Solventum during the second quarter valued at $96,242,000. Finally, Magnetar Financial LLC grew its holdings in shares of Solventum by 2,880.8% during the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after buying an additional 1,440,410 shares in the last quarter.

Solventum Trading Up 0.1 %

SOLV opened at $68.14 on Monday. The business’s 50-day moving average is $64.77. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. 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 (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (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 the consensus estimate of $2.05 billion. The company’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Solventum Co. will post 6.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SOLV shares. The Goldman Sachs Group lifted their price target on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Wells Fargo & Company lowered their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Morgan Stanley lowered their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Bank of America lowered their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus initiated coverage on Solventum in a research note on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $64.33.

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.