Newport Trust Company LLC invested $98.98 million in Solventum Co. (NYSE: SOLV)

Newport Trust Company LLC acquired a new position in Solventum Co. (NYSE:SOLV – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,871,703 shares of the company’s stock, valued at approximately $98,976,000. Newport Trust Company LLC owned approximately 1.08% of Solventum at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SOLV. EverSource Wealth Advisors LLC purchased a new stake in shares of Solventum in the first quarter worth about $30,000. Hollencrest Capital Management bought a new position in Solventum in the second quarter valued at $25,000. Deseret Mutual Benefit Trustees bought a new position in Solventum in the second quarter valued at about $25,000. Richard W. Paul & Associates LLC bought a new stake in Solventum in the second quarter valued at about $26,000. Finally, Family Firm Inc. bought a new position in shares of Solventum during the 2nd quarter valued at about $26,000.

The Wall Street analyst weighs in

A number of equities research analysts recently issued reports on the company. Goldman Sachs Group boosted their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Wells Fargo & Company cut their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. 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 assumed coverage on Solventum in a report on Monday, June 24th. They set a “hold” rating on the stock. Finally, BTIG Research started coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating on the company. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Solventum has a consensus rating of “Hold” and an average target price of $58.25, based on data from MarketBeat.

Check out our latest research report on SOLV

Solventum stocks rose 0.3%

SOLV opened at $72.32 on Friday. 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. it has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The company’s 50-day moving average price is $60.59.

Solventum (NYSE:SOLV – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The company’s revenue was up 0.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Solventum Co. will post 6.38 EPS for the current fiscal year.

About Solventum

(Free report)

Solventum Corporation, a healthcare company, is committed to 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.

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