General American Investors Co. Inc. Purchases New Holdings in Solventum Co. (NYSE:SOLV)

General American Investors Co. Inc. purchased a new stake in Solventum Co. (NYSE:SOLV) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 207,350 shares of the company’s stock, valued at approximately $14,456,000.

Several other hedge funds have also made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new stake in shares of Solventum during the second quarter worth $25,000. Hollencrest Capital Management purchased a new stake in shares of Solventum during the second quarter worth $25,000. Partnership Wealth Management LLC purchased a new stake in shares of Solventum during the second quarter worth $26,000. Richard W. Paul & Associates LLC purchased a new stake in shares of Solventum during the second quarter worth $26,000. Finally, Family Firm Inc. purchased a new stake in shares of Solventum during the second quarter worth $26,000.

Analysts Set New Price Targets

Several analysts have commented on SOLV shares. 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. Morgan Stanley decreased their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Piper Sandler started coverage on shares of Solventum in a research report on Monday, October 7th. They issued a “neutral” rating and a $71.00 target price for the company. Wolfe Research initiated coverage on shares of Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company cut their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Solventum currently has a consensus rating of “Hold” and a consensus target price of $64.33.

Solventum Stock Performance

SOLV stock traded down $0.20 during mid-day trading on Thursday, reaching $73.94. 11,877 shares of the stock traded hands, compared to its average volume of 1,742,745. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The business has a 50-day moving average of $69.67 and a two-hundred day moving average of $61.86.

Solventum (NYSE:SOLV) last announced its 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 company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts predict 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.