Commonwealth Equity Services LLC Purchases Shares of 82,270 Solventum Co. (NYSE:SOLV)

Commonwealth Equity Services LLC purchased a new stake in shares of Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 82,270 shares of the company’s stock, valued at approximately $4,350,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Partnership Wealth Management LLC purchased a new stake in shares of Solventum in the second quarter worth about $26,000. Richard W. Paul & Associates LLC purchased a new stake in shares of Solventum in the second quarter worth about $26,000. Family Firm Inc. purchased a new stake in shares of Solventum in the second quarter worth about $26,000. M&R Capital Management Inc. purchased a new stake in shares of Solventum in the second quarter worth about $27,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Solventum in the second quarter worth about $27,000.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Morgan Stanley cut their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Wells Fargo & Company cut their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. The Goldman Sachs Group boosted 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. Bank of America cut their price target on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Finally, Argus assumed coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Solventum presently has an average rating of “Hold” and an average price target of $58.25.

Solventum Stock Performance

Shares of NYSE SOLV opened at $66.20 on Monday. The company’s 50 day moving average price is $56.95. 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 announced its quarterly earnings data 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 firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Solventum Co. will post 6.38 EPS for the current year.

About Solventum

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.