Carolinas Wealth Consulting LLC Invests $43,000 in Solventum Co. (NYSE:SOLV)

Carolinas Wealth Consulting LLC bought a new stake in shares of Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 815 shares of the company’s stock, valued at approximately $43,000.

Several other institutional investors have also added to or reduced their stakes in SOLV. Deseret Mutual Benefit Administrators purchased a new stake in Solventum during the 2nd quarter worth approximately $25,000. Partnership Wealth Management LLC purchased a new stake in shares of Solventum during the second quarter valued at $26,000. Richard W. Paul & Associates LLC acquired a new position in shares of Solventum in the 2nd quarter valued at $26,000. Family Firm Inc. purchased a new position in Solventum in the 2nd quarter worth $26,000. Finally, M&R Capital Management Inc. acquired a new stake in Solventum during the 2nd quarter worth about $27,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SOLV. BTIG Research initiated coverage on Solventum in a report on Thursday, September 5th. They issued a “neutral” rating on the stock. Argus began coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. The Goldman Sachs Group upped their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Wells Fargo & Company reduced their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley lowered their price target 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. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.25.

Solventum Stock Up 0.3 %

NYSE:SOLV opened at $72.32 on Friday. The company’s 50 day moving average price is $60.59. Solventum Co. has a 1-year low of $47.16 and a 1-year 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 issued its quarterly earnings data 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 firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The company’s quarterly revenue was up .2% compared to the same quarter last year. Analysts forecast that Solventum Co. will post 6.38 EPS for the current fiscal 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.