Synergy Asset Management LLC Makes New Investment in Solventum Co. (NYSE:SOLV)

Synergy Asset Management LLC purchased a new stake in Solventum Co. (NYSE:SOLV) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 506 shares of the company’s stock, valued at approximately $35,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trian Fund Management L.P. raised its holdings in shares of Solventum by 32.9% in the third quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after acquiring an additional 1,765,676 shares during the last quarter. State Street Corp raised its stake in Solventum by 3.1% in the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after purchasing an additional 185,938 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Solventum by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock valued at $232,608,000 after purchasing an additional 128,317 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Solventum during the 3rd quarter worth about $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Solventum by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company’s stock worth $73,469,000 after purchasing an additional 3,745 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SOLV shares. Mizuho initiated coverage on shares of Solventum in a research note on Wednesday, December 4th. They set a “neutral” rating and a $70.00 price objective on the stock. Morgan Stanley increased their price target on Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Piper Sandler lifted their price objective on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus started coverage on Solventum in a research report on Tuesday, October 8th. They set a “buy” rating and a $82.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.29.

Solventum Price Performance

Solventum stock opened at $74.05 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.83 and a current ratio of 1.15. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The stock’s 50-day moving average is $70.11 and its 200-day moving average is $67.03.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.23). The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Equities research analysts anticipate that Solventum Co. will post 6.58 earnings per share for the current 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.