13 Best New Stocks to Buy Now

11. Solventum Corporation (NYSE:SOLV)

Number of Hedge Fund Holders: 38

Solventum Corporation (NYSE:SOLV) is one of the best new stocks to buy now. On June 25, Solventum announced an amendment to its transaction agreement with Thermo Fisher Scientific Inc. (NYSE:TMO). The revised agreement now excludes Solventum’s drinking water filtration business from the assets being acquired by Thermo Fisher. Consequently, the cash consideration for the acquisition has been adjusted from ~$4.1 billion to $4 billion. The net proceeds from this sale are intended for debt reduction.

This amendment is expected to streamline the transaction and accelerate its closure, which is still expected by the end of this year. Under the new terms, Thermo Fisher will be entitled to a payment of up to $75 million from Solventum. Keeping the Water Business is projected to increase Solventum’s annual EPS gain by $0.15 to $0.2.

The terms of the amended agreement remain largely consistent with the initial agreement, with modifications specifically reflecting the exclusion of the Water Business. These adjustments include changes to non-compete clauses and related provisions, as well as certain reverse services, manufacturing, and supply agreements that will now support the retained Water Business.

Solventum Corporation (NYSE:SOLV) is a healthcare company that develops, manufactures, and commercializes a portfolio of solutions to address customer and patient needs internationally. Thermo Fisher Scientific Inc. (NYSE:TMO) provides life sciences solutions, analytical instruments, specialty diagnostics, laboratory products, and biopharma services internationally.