Jensen Investment Management Inc. Buys New Position in Solventum Co. (NYSE:SOLV)

Jensen Investment Management Inc. acquired a new stake in shares of Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,635 shares of the company’s stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SOLV. Fifth Lane Capital LP acquired a new position in shares of Solventum in the first quarter worth about $826,000. Boit C F David purchased a new stake in shares of Solventum in the first quarter worth approximately $152,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Solventum in the first quarter worth approximately $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Solventum in the first quarter worth approximately $209,000. Finally, LRI Investments LLC purchased a new stake in shares of Solventum in the first quarter worth approximately $43,000.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of Solventum in a research report on Thursday. They set a “neutral” rating on the stock. Wells Fargo & Company cut their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Bank of America cut their price objective on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. The Goldman Sachs Group raised their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research report on Monday, August 12th. Finally, Argus assumed coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, Solventum currently has a consensus rating of “Hold” and an average target price of $58.25.

Solventum Trading Up 0.5 %

Shares of NYSE:SOLV traded up $0.36 during trading on Friday, reaching $65.96. The stock had a trading volume of 221,091 shares, compared to its average volume of 1,990,315. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. The firm’s fifty day moving average is $56.68.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Solventum’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts anticipate that Solventum Co. will post 6.38 EPS for the current year.

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.