Kimelman & Baird LLC Acquires Shares of 1,150 Solventum Co. (NYSE:SOLV)

Kimelman & Baird LLC bought a new position in shares of Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,150 shares of the company’s stock, valued at approximately $61,000.

Other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators acquired a new stake in Solventum in the 2nd quarter worth about $25,000. Hollencrest Capital Management acquired a new stake in shares of Solventum in the second quarter valued at approximately $25,000. Partnership Wealth Management LLC bought a new stake in shares of Solventum in the second quarter valued at approximately $26,000. Richard W. Paul & Associates LLC acquired a new stake in Solventum during the second quarter worth approximately $26,000. Finally, Family Firm Inc. bought a new position in Solventum during the 2nd quarter worth $26,000.

Solventum Price Performance

Shares of NYSE SOLV opened at $69.72 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05. The business’s 50-day simple moving average is $63.01.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Solventum’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Bank of America cut their price objective 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. The Goldman Sachs Group raised their target price on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. BTIG Research started coverage on shares of Solventum in a report on Thursday, September 5th. They set a “neutral” rating for the company. Finally, Wolfe Research initiated coverage on shares of Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.