Hennessy Advisors Inc. takes position in Solventum Co. (NYSE:SOLV)

Hennessy Advisors Inc. acquired a new position in shares of Solventum Co. (NYSE:SOLV – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,725 shares of the company’s stock, valued at approximately $356,000.

Other large investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Solventum in the second quarter valued at $24,533,000. Raymond James & Associates acquired a new position in Solventum in the second quarter valued at about $16,986,000. QV Investors Inc. acquired a new position in Solventum in the second quarter valued at approximately $8,312,000. Parsons Capital Management Inc. RI acquired a new stake in shares of Solventum in the second quarter valued at approximately $6,644,000. Finally, Swedbank AB purchased a new stake in shares of Solventum during the second quarter valued at about $4,711,000.

Analysts on Wall Street are forecasting an increase

A number of research analysts recently commented on the company. Bank of America reduced their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Goldman Sachs Group upped their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. Wells Fargo & Company reduced their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Morgan Stanley cut their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Finally, Argus initiated coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the company. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $58.25, according to MarketBeat.

See our latest report on SOLV

Solventum trading up 2.7%

Shares of SOLV stock opened at $61.40 on Friday. The company has a fifty day moving average price of $54.79. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96, and a debt-to-equity ratio of 2.90.

Solventum (NYSE:SOLV – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s revenue for the quarter was up 0.2% compared to the same quarter last year. As a group, equities analysts anticipate that Solventum Co. will post 6.4 earnings per share for the current fiscal year.

Solventum profile

(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.

See Also

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