Diversify Wealth Management LLC Buys New Shares in Solventum Co. (NYSE:SOLV)

Diversify Wealth Management LLC purchased a new position in shares of Solventum Co. (NYSE:SOLV) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 3,303 shares of the company’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SOLV. Price T Rowe Associates Inc. MD bought a new position in Solventum during the first quarter worth about $5,889,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Solventum in the 1st quarter valued at $5,747,000. CWM LLC acquired a new stake in shares of Solventum during the 2nd quarter worth approximately $473,000. Great Valley Advisor Group Inc. acquired a new stake in shares of Solventum in the 2nd quarter valued at $493,000. Finally, First Horizon Advisors Inc. bought a new position in Solventum in the second quarter valued at about $58,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price on the stock. Wolfe Research began coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. Morgan Stanley dropped their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Piper Sandler initiated coverage on Solventum in a report on Monday, October 7th. They issued a “neutral” rating and a $71.00 price target on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $64.33.

Solventum Stock Performance

Shares of NYSE SOLV opened at $72.46 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. The stock’s 50 day moving average price is $68.90 and its 200-day moving average price is $61.64. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts predict that Solventum Co. will post 6.38 EPS for the current 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.