Heritage Investors Management Corp Has $430,000 Stake in Solventum Co. (NYSE:SOLV)

Heritage Investors Management Corp decreased its position in Solventum Co. (NYSE:SOLV) by 13.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,163 shares of the company’s stock after selling 949 shares during the quarter. Heritage Investors Management Corp’s holdings in Solventum were worth $430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Davis Selected Advisers acquired a new stake in shares of Solventum in the 2nd quarter valued at about $273,070,000. Nuance Investments LLC acquired a new stake in shares of Solventum in the 2nd quarter valued at about $115,829,000. Newport Trust Company LLC acquired a new stake in shares of Solventum in the 2nd quarter valued at about $98,976,000. Baupost Group LLC MA acquired a new stake in shares of Solventum in the second quarter valued at about $96,242,000. Finally, Magnetar Financial LLC increased its position in shares of Solventum by 2,880.8% in the second quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after acquiring an additional 1,440,410 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley lowered their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. BTIG Research assumed coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating on the stock. Stifel Nicolaus assumed coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. The Goldman Sachs Group lifted their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company lowered their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $64.33.

Solventum Stock Performance

Solventum stock opened at $73.16 on Wednesday. Solventum Co. has a 52 week low of $47.16 and a 52 week 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. The stock has a 50-day simple moving average of $69.39 and a 200 day simple moving average of $61.78.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The business’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Solventum Co. will post 6.38 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.