7,248 Shares in Solventum Co. (NYSE:SOLV) Acquired by Argent Trust Co

Argent Trust Co bought a new position in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,248 shares of the company’s stock, valued at approximately $383,000.

Several other large investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC bought a new position in shares of Solventum during the first quarter worth about $30,000. Deseret Mutual Benefit Administrators bought a new position in Solventum in the 2nd quarter worth about $25,000. Richard W. Paul & Associates LLC acquired a new stake in shares of Solventum in the second quarter valued at approximately $26,000. Family Firm Inc. acquired a new stake in shares of Solventum in the second quarter valued at approximately $26,000. Finally, Partnership Wealth Management LLC bought a new stake in shares of Solventum during the second quarter valued at approximately $26,000.

Analyst Ratings Changes

SOLV has been the topic of several analyst reports. Bank of America lowered their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. The Goldman Sachs Group upped their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. Argus assumed coverage on shares of Solventum in a research note on Monday, June 24th. They set a “hold” rating on the stock. Morgan Stanley dropped their price target 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, Wells Fargo & Company decreased their price objective 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. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.25.

Solventum Price Performance

Shares of NYSE SOLV opened at $69.95 on Friday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The firm has a 50-day simple moving average of $61.01.

Solventum (NYSE:SOLV) last issued its 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 the consensus estimate of $2.05 billion. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts predict 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.