Lee Danner & Bass Inc. Invests $231,000 in Solventum Co. (NYSE:SOLV)

Lee Danner & Bass Inc. acquired a new stake in Solventum Co. (NYSE:SOLV) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,359 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors have also added to or reduced their stakes in SOLV. Price T Rowe Associates Inc. MD bought a new position in shares of Solventum in the first quarter worth $5,889,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Solventum during the first quarter valued at about $5,747,000. CWM LLC bought a new position in shares of Solventum in the second quarter valued at approximately $473,000. Great Valley Advisor Group Inc. bought a new stake in Solventum during the 2nd quarter worth approximately $493,000. Finally, First Horizon Advisors Inc. purchased a new position in shares of Solventum during the 2nd quarter valued at $58,000.

Solventum Price Performance

SOLV opened at $64.12 on Friday. The company’s 50 day simple moving average is $55.37. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

Solventum (NYSE:SOLV) last released its 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 during the quarter, compared to analysts’ expectations of $2.05 billion. The firm’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Solventum Co. will post 6.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on SOLV shares. Morgan Stanley dropped their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Bank of America cut their price target 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. Argus began coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. Wells Fargo & Company cut their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Finally, The Goldman Sachs Group lifted their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, Solventum presently has an average rating of “Hold” and an average price target 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.