Ensign Peak Advisors Inc Purchases Shares of 16,686 Solventum Co. (NYSE:SOLV)

Ensign Peak Advisors Inc purchased a new stake in Solventum Co. (NYSE:SOLV) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,686 shares of the company’s stock, valued at approximately $882,000.

A number of other institutional investors have also recently made changes to their positions in the stock. National Bank of Canada FI lifted its stake in shares of Solventum by 4.0% in the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after purchasing an additional 236 shares during the period. EverSource Wealth Advisors LLC acquired a new position in shares of Solventum in the 1st quarter valued at about $30,000. Hollencrest Capital Management acquired a new position in shares of Solventum in the 2nd quarter valued at about $25,000. Deseret Mutual Benefit Administrators acquired a new position in shares of Solventum in the 2nd quarter valued at about $25,000. Finally, Richard W. Paul & Associates LLC acquired a new position in shares of Solventum in the 2nd quarter valued at about $26,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SOLV shares. Wells Fargo & Company dropped their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. BTIG Research started coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating on the stock. Morgan Stanley dropped their price objective 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. Argus started coverage on Solventum in a research note on Monday, June 24th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.25.

Solventum Stock Down 0.8 %

SOLV stock opened at $67.57 on Friday. The business’s 50 day moving average price is $62.70. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

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