LRI Investments LLC Acquires New Stake in Solventum Co. (NYSE:SOLV)

LRI Investments LLC acquired a new stake in shares of Solventum Co. (NYSE:SOLV) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 618 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds have also made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Solventum in the first quarter worth approximately $5,747,000. Fifth Lane Capital LP acquired a new position in Solventum in the first quarter worth approximately $826,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Solventum in the first quarter worth approximately $209,000. Finally, Boit C F David acquired a new position in Solventum in the first quarter worth approximately $152,000.

Solventum Stock Up 0.1 %

Shares of SOLV stock traded up $0.08 on Friday, hitting $57.63. The company’s stock had a trading volume of 1,122,368 shares, compared to its average volume of 1,743,475. The company has a current ratio of 1.81, a quick ratio of 1.33 and a debt-to-equity ratio of 2.16. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The firm’s fifty day moving average price is $54.60.

Solventum (NYSE:SOLV) last announced its earnings results on Thursday, May 9th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.67 by $0.41. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.99 billion. Sell-side analysts anticipate that Solventum Co. will post 6.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Argus assumed coverage on shares of Solventum in a research report on Monday, June 24th. They issued a “hold” rating on the stock. Morgan Stanley lowered their price objective 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. The Goldman Sachs Group lowered their price objective on shares of Solventum from $54.00 to $48.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company began coverage on shares of Solventum in a research report on Monday, April 8th. They set an “equal weight” rating and a $69.00 price objective on the stock. Finally, Edward Jones began coverage on shares of Solventum in a research report on Tuesday, April 2nd. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.00.

Solventum Company 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.