1,005 Shares in Solventum Co. (NYSE:SOLV) Bought by City State Bank

City State Bank purchased a new stake in shares of Solventum Co. (NYSE:SOLV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,005 shares of the company’s stock, valued at approximately $53,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SOLV. Bank & Trust Co acquired a new position in Solventum during the 2nd quarter valued at $50,000. ST Germain D J Co. Inc. acquired a new position in Solventum during the 2nd quarter valued at $93,000. Beach Investment Counsel Inc. PA acquired a new position in Solventum during the 2nd quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Solventum during the 2nd quarter valued at $29,000. Finally, DNB Asset Management AS acquired a new position in Solventum during the 2nd quarter valued at $1,227,000.

Analyst Ratings Changes

Several research firms recently commented on SOLV. Argus began coverage on shares of Solventum in a research note on Monday, June 24th. They set a “hold” rating for the company. The Goldman Sachs Group dropped their price objective on shares of Solventum from $54.00 to $48.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Morgan Stanley dropped their price objective on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Bank of America dropped their price objective 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. Finally, Wells Fargo & Company initiated coverage on shares of Solventum in a research note on Monday, April 8th. They issued an “equal weight” rating and a $69.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.00.

Solventum Trading Up 2.4 %

SOLV stock traded up $1.33 during trading on Tuesday, hitting $57.47. 916,572 shares of the stock traded hands, compared to its average volume of 2,202,698. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The stock has a 50 day moving average of $54.21. The company has a quick ratio of 1.33, a current ratio of 1.81 and a debt-to-equity ratio of 2.16.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, May 9th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.41. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.99 billion. Research analysts forecast that Solventum Co. will post 6.25 earnings per share 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.