Peoples Bank KS Takes Position in Solventum Co. (NYSE:SOLV)

Peoples Bank KS purchased a new position in shares of Solventum Co. (NYSE:SOLV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 586 shares of the company’s stock, valued at approximately $41,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Fifth Lane Capital LP purchased a new stake in Solventum in the first quarter worth $826,000. Boit C F David purchased a new position in Solventum in the 1st quarter worth about $152,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Solventum in the 1st quarter worth about $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Solventum during the 1st quarter valued at about $209,000. Finally, LRI Investments LLC purchased a new stake in Solventum in the 1st quarter valued at about $43,000.

Analyst Ratings Changes

SOLV has been the topic of a number of recent research reports. Bank of America dropped their price target on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Wells Fargo & Company cut their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. BTIG Research assumed coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. The Goldman Sachs Group lifted 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. Finally, Argus initiated coverage on Solventum in a report on Monday, June 24th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, Solventum presently has an average rating of “Hold” and a consensus target price of $58.25.

Solventum Stock Up 0.7 %

Shares of SOLV stock traded up $0.48 during trading hours on Friday, hitting $67.74. The company’s stock had a trading volume of 836,828 shares, compared to its average volume of 1,898,265. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The stock has a 50 day simple moving average of $63.61. 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 (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that Solventum Co. will post 6.38 earnings per share for the current year.

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.