Mitchell Sinkler & Starr PA Makes New $298,000 Investment in Solventum Co. (NYSE:SOLV)

Mitchell Sinkler & Starr PA bought a new position in shares of Solventum Co. (NYSE:SOLV) during the 2nd quarter, Holdings Channel.com reports. The firm bought 5,418 shares of the company’s stock, valued at approximately $298,000.

Several other hedge funds have also recently bought and sold shares of SOLV. National Bank of Canada FI boosted its holdings in Solventum by 4.0% during the second quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after acquiring an additional 236 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of Solventum in the first quarter valued at about $30,000. Deseret Mutual Benefit Administrators bought a new stake in shares of Solventum in the second quarter valued at about $25,000. Richard W. Paul & Associates LLC bought a new stake in shares of Solventum in the second quarter valued at about $26,000. Finally, Family Firm Inc. bought a new stake in shares of Solventum in the second quarter valued at about $26,000.

Analysts Set New Price Targets

SOLV has been the subject of several research reports. BTIG Research started coverage on shares of Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. Morgan Stanley dropped their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Bank of America dropped their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Finally, Argus started coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.25.

Solventum Stock Performance

Shares of SOLV opened at $68.35 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The stock’s 50-day moving average is $57.59.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts forecast that Solventum Co. will post 6.38 earnings per share for the current fiscal 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.