Ashton Thomas Private Wealth LLC Invests $211,000 in Solventum Co. (NYSE:SOLV)

Ashton Thomas Private Wealth LLC bought a new position in Solventum Co. (NYSE:SOLV) during the second quarter, according to its most recent filing with the SEC. The firm bought 3,990 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds have also bought and sold shares of the business. Fifth Lane Capital LP bought a new position in Solventum in the 1st quarter valued at about $826,000. Boit C F David bought a new position in shares of Solventum in the first quarter valued at approximately $152,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Solventum during the first quarter valued at approximately $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Solventum during the first quarter worth $209,000. Finally, LRI Investments LLC purchased a new stake in Solventum in the 1st quarter valued at $43,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on SOLV shares. The Goldman Sachs Group upped their target price on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Argus began coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. Morgan Stanley reduced their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Finally, Wells Fargo & Company dropped their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Solventum has a consensus rating of “Hold” and an average price target of $58.25.

Solventum Trading Down 1.1 %

SOLV opened at $68.65 on Friday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a 50-day moving average of $58.32. 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 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 the consensus estimate of $2.05 billion. Solventum’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts expect 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.