Meyer Handelman Co. purchased a new stake in Solventum Co. (NYSE:SOLV – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund purchased 47,808 shares of the company’s stock, valued at approximately $2,528,000.
A number of other hedge funds also recently made changes to their positions in SOLV. EverSource Wealth Advisors LLC bought a new stake in Solventum in the first quarter valued at approximately $30,000. Partnership Wealth Management LLC bought a new stake in shares of Solventum in the 2nd quarter valued at $26,000. M&R Capital Management Inc. acquired a new stake in shares of Solventum during the second quarter worth $27,000. Beach Investment Counsel Inc. PA bought a new position in Solventum during the second quarter worth $27,000. Finally, S.A. Mason LLC acquired a new position in Solventum in the second quarter valued at $29,000.
Solventum Stock Up 0.9 %
NYSE:SOLV traded up $0.51 on Tuesday, hitting $58.22. The stock had a trading volume of 977,389 shares, compared to its average volume of 2,165,255. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The company’s fifty day moving average price is $54.18. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on SOLV. The Goldman Sachs Group increased their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday. Wells Fargo & Company lowered their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday. Argus started coverage on Solventum in a report on Monday, June 24th. They set a “hold” rating on the stock. Morgan Stanley lowered their price objective on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Finally, Bank of America cut their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.25.
Get Our Latest Report on Solventum
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.
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