Farmers Trust Co. Buys 22,639 Shares of Solventum Co. (NYSE:SOLV)

Farmers Trust Co. lifted its stake in Solventum Co. (NYSE:SOLV) by 38.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,598 shares of the company’s stock after acquiring an additional 22,639 shares during the period. Farmers Trust Co.’s holdings in Solventum were worth $5,689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes 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 bought a new stake in Solventum during the 1st quarter valued at approximately $5,747,000. CWM LLC bought a new stake in Solventum during the 2nd quarter valued at approximately $473,000. Great Valley Advisor Group Inc. acquired a new stake in Solventum in the 2nd quarter valued at approximately $493,000. Finally, First Horizon Advisors Inc. bought a new position in Solventum in the 2nd quarter worth approximately $58,000.

Solventum Trading Down 0.5 %

Shares of SOLV stock opened at $67.26 on Friday. Solventum Co. has a 12 month low of $47.16 and a 12 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 stock has a 50-day moving average price of $63.61.

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 the consensus estimate of $2.05 billion. Solventum’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts forecast that Solventum Co. will post 6.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SOLV shares. Bank of America cut their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. BTIG Research initiated coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Argus initiated coverage on shares of Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. Wolfe Research initiated coverage on Solventum in a research note on Thursday, September 26th. They issued a “peer perform” rating on the stock. Finally, The Goldman Sachs Group increased their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $58.25.

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.