66,911 Shares in Solventum Co. (NYSE:SOLV) Acquired by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC acquired a new stake in shares of Solventum Co. (NYSE:SOLV) during the third quarter, Holdings Channel reports. The institutional investor acquired 66,911 shares of the company’s stock, valued at approximately $4,665,000.

Other large investors have also recently made changes to their positions in the company. Davis Selected Advisers acquired a new stake in Solventum in the 2nd quarter valued at approximately $273,070,000. Nuance Investments LLC acquired a new position in Solventum during the second quarter worth about $115,829,000. Newport Trust Company LLC purchased a new stake in shares of Solventum in the second quarter valued at about $98,976,000. Baupost Group LLC MA purchased a new position in shares of Solventum during the second quarter valued at approximately $96,242,000. Finally, Magnetar Financial LLC increased its position in shares of Solventum by 2,880.8% in the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock worth $78,813,000 after acquiring an additional 1,440,410 shares in the last quarter.

Solventum Stock Down 0.5 %

Shares of NYSE SOLV traded down $0.38 during mid-day trading on Friday, hitting $74.69. The company had a trading volume of 330,517 shares, compared to its average volume of 1,742,930. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The stock’s 50-day moving average price is $69.67 and its 200-day moving average price is $61.86.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. The company’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Solventum Co. will post 6.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SOLV shares. Morgan Stanley cut their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Piper Sandler lifted their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday. Wolfe Research started coverage on Solventum in a report on Thursday, September 26th. They set a “peer perform” rating on the stock. The Goldman Sachs Group raised their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Finally, BTIG Research started coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Solventum currently has a consensus rating of “Hold” and an average price target of $65.00.

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.