Corundum Group Inc. Takes $1.25 Million Position in Solventum Co. (NYSE:SOLV)

Corundum Group Inc. acquired a new position in shares of Solventum Co. (NYSE:SOLV) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 23,599 shares of the company’s stock, valued at approximately $1,248,000.

Other large investors have also recently bought and sold shares of the company. Fifth Lane Capital LP acquired a new position in shares of Solventum during the 1st quarter worth $826,000. Boit C F David purchased a new stake in Solventum during the first quarter worth about $152,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum in the first quarter valued at about $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Solventum during the 1st quarter valued at approximately $209,000. Finally, LRI Investments LLC purchased a new stake in shares of Solventum during the 1st quarter worth approximately $43,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SOLV. Wells Fargo & Company dropped their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Argus started coverage on Solventum in a research note on Monday, June 24th. They set a “hold” rating for the company. Bank of America lowered their price objective on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. The Goldman Sachs Group lifted their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday. Finally, Morgan Stanley reduced their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, Solventum currently has an average rating of “Hold” and an average price target of $58.25.

Solventum Stock Up 1.8 %

Shares of NYSE:SOLV traded up $1.06 on Thursday, hitting $58.84. The company had a trading volume of 1,001,269 shares, compared to its average volume of 2,140,250. The business has a 50 day moving average of $54.30. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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. As a group, equities research analysts forecast that Solventum Co. will post 6.4 earnings per share for the current fiscal year.

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.