Johnson Investment Counsel Inc. Invests $756,000 in Solventum Co. (NYSE:SOLV)

Johnson Investment Counsel Inc. purchased a new stake in shares of Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,304 shares of the company’s stock, valued at approximately $756,000.

A number of other large investors also recently bought and sold shares of SOLV. Davis Selected Advisers purchased a new position in shares of Solventum during the 2nd quarter valued at approximately $273,070,000. Bank of New York Mellon Corp acquired a new stake in Solventum during the second quarter valued at $48,487,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Solventum during the second quarter valued at $24,533,000. Raymond James & Associates acquired a new position in shares of Solventum in the second quarter worth about $16,986,000. Finally, Rhumbline Advisers acquired a new position in shares of Solventum in the second quarter worth about $13,738,000.

Solventum Stock Up 2.0 %

Shares of SOLV opened at $70.00 on Friday. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The business’s fifty day simple moving average is $58.72. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Argus initiated coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating for the company. BTIG Research started coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Wells Fargo & Company decreased their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Morgan Stanley dropped their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Finally, Bank of America reduced 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. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.25.

Solventum 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.