Solventum Co. (NYSE:SOLV) Stock Position Lifted by National Bank of Canada FI

National Bank of Canada FI lifted its stake in shares of Solventum Co. (NYSE:SOLV) by 4.0% during the second quarter, Holdings Channel.com reports. The firm owned 6,093 shares of the company’s stock after acquiring an additional 236 shares during the period. National Bank of Canada FI’s holdings in Solventum were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Deseret Mutual Benefit Administrators bought a new position in Solventum during the 2nd quarter valued at $25,000. Partnership Wealth Management LLC bought a new stake in shares of Solventum in the 2nd quarter worth $26,000. Richard W. Paul & Associates LLC acquired a new stake in shares of Solventum in the second quarter valued at $26,000. Family Firm Inc. bought a new position in Solventum during the second quarter valued at about $26,000. Finally, M&R Capital Management Inc. acquired a new position in Solventum during the second quarter worth about $27,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SOLV shares. Wells Fargo & Company reduced their price objective 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. Argus started coverage on shares of Solventum in a research report on Monday, June 24th. They issued a “hold” rating on the stock. The Goldman Sachs Group upped their price target on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Bank of America reduced their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Finally, BTIG Research initiated coverage on Solventum in a report on Thursday, September 5th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.25.

Solventum Stock Performance

SOLV stock opened at $70.00 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The company’s 50 day moving average price is $58.72.

Solventum (NYSE:SOLV) last announced its 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 firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Solventum’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts anticipate 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.