DekaBank Deutsche Girozentrale Boosts Position in Solventum Co. (NYSE:SOLV)

DekaBank Deutsche Girozentrale boosted its stake in Solventum Co. (NYSE:SOLV) by 124.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,626 shares of the company’s stock after buying an additional 25,304 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Solventum were worth $3,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SOLV. Deseret Mutual Benefit Administrators purchased a new stake in Solventum in the 2nd quarter valued at about $25,000. Hollencrest Capital Management purchased a new stake in Solventum in the 2nd quarter valued at about $25,000. Partnership Wealth Management LLC purchased a new stake in Solventum in the 2nd quarter valued at about $26,000. Richard W. Paul & Associates LLC purchased a new stake in Solventum in the 2nd quarter valued at about $26,000. Finally, Family Firm Inc. acquired a new position in Solventum in the 2nd quarter valued at about $26,000.

Solventum Price Performance

Shares of SOLV opened at $72.46 on Friday. The stock has a 50 day moving average price of $68.90 and a 200 day moving average price of $61.64. 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 Co. has a 52-week low of $47.16 and a 52-week high of $96.05.

Solventum (NYSE:SOLV) last announced its quarterly earnings results 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 business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts predict that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on SOLV. Morgan Stanley dropped their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus began coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. Wolfe Research began coverage on Solventum in a research report on Thursday, September 26th. They set a “peer perform” rating for the company. BTIG Research began coverage on Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Finally, Piper Sandler began coverage on Solventum in a research report on Monday, October 7th. They set a “neutral” rating and a $71.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.33.

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.