11,781 Shares in Solventum Co. (NYSE:SOLV) Purchased by Cardinal Capital Management

Cardinal Capital Management bought a new stake in shares of Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,781 shares of the company’s stock, valued at approximately $623,000.

A number of other hedge funds have also made changes to their positions in SOLV. Webster Bank N. A. purchased a new stake in Solventum during the 2nd quarter valued at about $49,000. Gilman Hill Asset Management LLC acquired a new stake in shares of Solventum in the second quarter valued at approximately $873,000. Capital Investment Advisors LLC purchased a new position in Solventum during the second quarter worth approximately $659,000. Baldwin Brothers LLC MA acquired a new position in Solventum during the second quarter worth $78,000. Finally, OLD National Bancorp IN purchased a new stake in Solventum in the 2nd quarter valued at $444,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday. The Goldman Sachs Group reduced their target price on Solventum from $54.00 to $48.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Argus assumed coverage on Solventum in a report on Monday, June 24th. They set a “hold” rating for the company. Bank of America reduced their price objective on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Finally, Morgan Stanley lowered 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 note on Monday, July 15th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.75.

Solventum Price Performance

Shares of SOLV traded up $1.93 during midday trading on Friday, reaching $60.59. The stock had a trading volume of 2,411,871 shares, compared to its average volume of 2,188,416. The business has a fifty day moving average price of $54.12. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. 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 (NYSE:SOLV) last posted its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts forecast that Solventum Co. will post 6.25 EPS 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.