American National Bank purchased a new stake in shares of Solventum Co. (NYSE:SOLV – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,145 shares of the company’s stock, valued at approximately $113,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of SOLV. EverSource Wealth Advisors LLC bought a new stake in shares of Solventum during the 1st quarter valued at about $30,000. Partnership Wealth Management LLC purchased a new stake in Solventum in the second quarter valued at approximately $26,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Solventum during the second quarter valued at approximately $27,000. M&R Capital Management Inc. purchased a new position in Solventum in the 2nd quarter worth approximately $27,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Solventum in the 2nd quarter worth $27,000.
Solventum Stock Up 0.2 %
Shares of SOLV traded up $0.10 during trading hours on Thursday, hitting $59.76. The company had a trading volume of 511,222 shares, compared to its average volume of 2,076,608. Solventum Co. has a 52-week low of $47.16 and a 52-week high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The company’s 50 day moving average is $54.54.
Analyst Ratings Changes
A number of research firms have recently issued reports on SOLV. Wells Fargo & Company dropped their price objective on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Argus initiated coverage on Solventum in a research note on Monday, June 24th. They set a “hold” rating for the company. Bank of America cut their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. The Goldman Sachs Group raised their price objective on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Finally, Morgan Stanley dropped their target price 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. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $58.25.
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.
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