UMB Bank n.a. bought a new position in Solventum Co. (NYSE:SOLV – Free Report) in the second quarter, Holdings Channel reports. The institutional investor bought 4,545 shares of the company’s stock, valued at approximately $240,000.
Several other hedge funds and other institutional investors have also bought and sold shares of SOLV. Partnership Wealth Management LLC purchased a new position in shares of Solventum during the second quarter worth approximately $26,000. Richard W. Paul & Associates LLC bought a new position in shares of Solventum during the 2nd quarter valued at $26,000. Family Firm Inc. purchased a new position in Solventum in the 2nd quarter worth $26,000. M&R Capital Management Inc. bought a new stake in Solventum in the second quarter worth $27,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in Solventum during the second quarter valued at about $27,000.
Wall Street Analyst Weigh In
SOLV has been the topic of several analyst reports. Wells Fargo & Company decreased their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Bank of America lowered their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Morgan Stanley cut their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Argus initiated coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group raised their price target on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. 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, Solventum presently has a consensus rating of “Hold” and an average target price of $58.25.
Solventum Price Performance
Shares of Solventum stock traded up $1.20 during midday trading on Friday, reaching $64.12. 2,089,456 shares of the company’s stock traded hands, compared to its average volume of 2,025,587. The company’s 50 day moving average is $55.37. Solventum Co. has a 12 month low of $47.16 and a 12 month 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.
Solventum (NYSE:SOLV – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Solventum Co. will post 6.4 earnings per share for the current year.
Solventum Company 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.
Read More
- Five stocks we like better than Solventum
- Quiet Period Expirations Explained
- The Solar Stock Battle: Is Daqo or JinkoSolar Your Next Big Win?
- How Technical Indicators Can Help You Find Oversold Stocks
- Are These Chinese Stocks a Buy? Michael Burry’s Top Picks Say Yes
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- Five Below Stock Faces Challenges Despite Strong Revenue Growth
Want to see what other hedge funds are holding SOLV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Solventum Co. (NYSE:SOLV – Free Report).
Receive News & Ratings for Solventum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solventum and related companies with MarketBeat.com's FREE daily email newsletter.