General American Investors Co. Inc. Invests $14.46 Million in Solventum Co. (NYSE:SOLV)

General American Investors Co. Inc. bought a new stake in shares of Solventum Co. (NYSE:SOLV) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 207,350 shares of the company’s stock, valued at approximately $14,456,000. General American Investors Co. Inc. owned approximately 0.12% of Solventum at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Davis Selected Advisers acquired a new position in shares of Solventum in the second quarter worth about $273,070,000. Nuance Investments LLC acquired a new position in shares of Solventum in the 2nd quarter valued at approximately $115,829,000. Newport Trust Company LLC purchased a new position in shares of Solventum during the 2nd quarter valued at approximately $98,976,000. Baupost Group LLC MA acquired a new stake in shares of Solventum during the second quarter worth approximately $96,242,000. Finally, Magnetar Financial LLC increased its stake 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 worth $78,813,000 after buying an additional 1,440,410 shares during the last quarter.

Solventum Price Performance

Shares of NYSE:SOLV traded down $0.20 during trading hours on Thursday, hitting $73.94. The stock had a trading volume of 11,877 shares, compared to its average volume of 1,742,745. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The stock’s fifty day simple moving average is $69.67 and its 200 day simple moving average is $61.86. Solventum Co. has a 1-year low of $47.16 and a 1-year 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, topping analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The company’s revenue was up .2% on a year-over-year basis. As a group, analysts forecast that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SOLV has been the subject of several research analyst reports. The Goldman Sachs Group boosted 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, August 12th. Wolfe Research initiated coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. Stifel Nicolaus started coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 price target on the stock. Morgan Stanley reduced their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Finally, BTIG Research began coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Solventum has an average rating of “Hold” and a consensus price target 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.