Bank of Montreal Can Buys Shares of 157,746 Solventum Co. (NYSE:SOLV)

Bank of Montreal Can purchased a new position in Solventum Co. (NYSE:SOLV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 157,746 shares of the company’s stock, valued at approximately $8,892,000. Bank of Montreal Can owned 0.09% of Solventum as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Magnetar Financial LLC lifted its holdings in Solventum by 2,880.8% in the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after acquiring an additional 1,440,410 shares during the period. Public Sector Pension Investment Board bought a new position in shares of Solventum in the 2nd quarter worth approximately $213,000. QVIDTVM Management LLC boosted its holdings in shares of Solventum by 389.0% in the second quarter. QVIDTVM Management LLC now owns 438,217 shares of the company’s stock worth $23,173,000 after buying an additional 348,609 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Solventum in the second quarter worth approximately $1,702,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in Solventum during the second quarter valued at approximately $32,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SOLV. The Goldman Sachs Group lifted their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Bank of America cut their price target on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. Argus started coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. BTIG Research began coverage on Solventum in a research note on Thursday, September 5th. They set a “neutral” rating for the company. Finally, Morgan Stanley reduced their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.25.

Solventum Stock Up 3.2 %

NYSE SOLV opened at $69.72 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The stock has a 50-day simple moving average of $63.01.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The firm’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts forecast that Solventum Co. will post 6.38 EPS 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.