SouthState Corp Makes New Investment in Solventum Co. (NYSE:SOLV)

SouthState Corp bought a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 674 shares of the company’s stock, valued at approximately $36,000.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new position in Solventum during the 1st quarter worth $5,889,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Solventum during the first quarter valued at $5,747,000. CWM LLC bought a new position in Solventum in the second quarter valued at about $473,000. Great Valley Advisor Group Inc. acquired a new stake in Solventum in the second quarter worth about $493,000. Finally, First Horizon Advisors Inc. bought a new stake in Solventum during the 2nd quarter worth about $58,000.

Solventum Price Performance

Shares of NYSE SOLV opened at $66.20 on Friday. 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 twelve month low of $47.16 and a twelve month high of $96.05. The stock’s fifty day moving average price is $56.95.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. Solventum’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts expect that Solventum Co. will post 6.38 EPS for the current year.

Analyst Ratings Changes

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

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.