Caldwell Sutter Capital Inc. Purchases Shares of 767 Solventum Co. (NYSE:SOLV)

Caldwell Sutter Capital Inc. acquired a new position in Solventum Co. (NYSE:SOLV) during the second quarter, HoldingsChannel.com reports. The fund acquired 767 shares of the company’s stock, valued at approximately $41,000.

Several other large investors have also recently modified their holdings of SOLV. Fifth Third Bancorp purchased a new position in Solventum in the second quarter worth $321,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Solventum during the 2nd quarter worth $27,000. Hall Laurie J Trustee acquired a new position in Solventum during the 2nd quarter valued at about $275,000. Chevy Chase Trust Holdings LLC purchased a new stake in Solventum in the second quarter valued at about $4,166,000. Finally, Focus Financial Network Inc. boosted its holdings in Solventum by 6.7% in the second quarter. Focus Financial Network Inc. now owns 14,424 shares of the company’s stock worth $764,000 after acquiring an additional 908 shares in the last quarter.

Analysts Set New Price Targets

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

Solventum Stock Performance

SOLV traded up $0.21 during trading on Wednesday, reaching $59.66. 914,209 shares of the company’s stock were exchanged, compared to its average volume of 2,091,954. 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 1 year low of $47.16 and a 1 year high of $96.05. The stock has a fifty day moving average of $54.54.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Solventum Co. will post 6.4 EPS for the current 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.