Hickory Point Bank & Trust Makes New $228,000 Investment in Solventum Co. (NYSE:SOLV)

Hickory Point Bank & Trust bought a new stake in shares of Solventum Co. (NYSE:SOLV) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,000 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Clarity Asset Management Inc. purchased a new stake in Solventum during the fourth quarter valued at approximately $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Solventum during the fourth quarter worth $26,000. Raiffeisen Bank International AG purchased a new stake in shares of Solventum during the 4th quarter valued at $29,000. Colonial Trust Co SC boosted its position in shares of Solventum by 240.7% in the 4th quarter. Colonial Trust Co SC now owns 511 shares of the company’s stock worth $34,000 after purchasing an additional 361 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in Solventum during the 4th quarter worth $37,000.

Solventum Price Performance

Shares of NYSE:SOLV opened at $74.83 on Friday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $85.92. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 2.45. The company has a market cap of $12.95 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 1.94 and a beta of 0.54. The company’s 50 day moving average is $69.36 and its 200 day moving average is $71.54.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.19 by $0.15. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $2.08 earnings per share. On average, sell-side analysts forecast that Solventum Co. will post 6.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Mizuho increased their price target on Solventum from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Piper Sandler upgraded shares of Solventum from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $78.00 to $87.00 in a report on Monday, May 19th. Wells Fargo & Company lifted their target price on shares of Solventum from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Morgan Stanley upped their price target on shares of Solventum from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group raised their price target on shares of Solventum from $63.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $80.29.

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.