American Investment Services Inc. Invests $892,000 in Solventum Co. (NYSE:SOLV)

American Investment Services Inc. acquired a new position in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 16,865 shares of the company’s stock, valued at approximately $892,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Fifth Lane Capital LP purchased a new stake in Solventum during the 1st quarter worth about $826,000. Boit C F David purchased a new stake in shares of Solventum during the first quarter worth about $152,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Solventum in the first quarter valued at approximately $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Solventum during the first quarter valued at approximately $209,000. Finally, LRI Investments LLC acquired a new stake in Solventum during the first quarter worth approximately $43,000.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley cut their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Wells Fargo & Company lowered their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Argus started coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” rating on the stock. Finally, Bank of America cut their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.25.

Solventum Price Performance

Solventum stock opened at $69.95 on Monday. The stock has a fifty day simple moving average of $61.01. Solventum Co. has a 52-week low of $47.16 and a 52-week 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 announced its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (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 analyst estimates of $2.05 billion. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts predict 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.