UMB Bank n.a. Takes Position in Solventum Co. (NYSE:SOLV)

UMB Bank n.a. bought a new position in Solventum Co. (NYSE:SOLV) 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) 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.