3,564 Shares in Solventum Co. (NYSE:SOLV) Acquired by Merit Financial Group LLC

Merit Financial Group LLC purchased a new stake in Solventum Co. (NYSE:SOLV) during the 4th quarter, Holdings Channel.com reports. The fund purchased 3,564 shares of the company’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Modus Advisors LLC purchased a new position in Solventum during the 4th quarter worth approximately $25,000. Copeland Capital Management LLC purchased a new position in shares of Solventum during the third quarter worth approximately $26,000. Mather Group LLC. purchased a new position in shares of Solventum during the third quarter worth approximately $27,000. Twin Lakes Capital Management LLC acquired a new position in shares of Solventum in the 2nd quarter valued at $29,000. Finally, True Wealth Design LLC raised its position in Solventum by 23,550.0% in the 3rd quarter. True Wealth Design LLC now owns 473 shares of the company’s stock valued at $33,000 after purchasing an additional 471 shares during the last quarter.

Solventum Price Performance

SOLV opened at $74.93 on Monday. The business has a 50 day simple moving average of $69.56 and a 200-day simple moving average of $66.43. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, November 7th. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.23). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. On average, research analysts anticipate that Solventum Co. will post 6.58 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on SOLV shares. Morgan Stanley lifted their price objective on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Piper Sandler upped their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Stifel Nicolaus assumed 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. Finally, Mizuho assumed coverage on Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Solventum has an average rating of “Hold” and a consensus price target of $68.29.

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.