Cahill Financial Advisors Inc. Takes Position in Solventum Co. (NYSE:SOLV)

Cahill Financial Advisors Inc. bought a new stake in Solventum Co. (NYSE:SOLV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,514 shares of the company’s stock, valued at approximately $292,000.

A number of other hedge funds have also made changes to their positions in SOLV. Bank of New York Mellon Corp purchased a new stake in Solventum during the 2nd quarter worth $48,487,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Solventum during the 2nd quarter worth $24,533,000. Raymond James & Associates purchased a new stake in Solventum during the 2nd quarter worth $16,986,000. Rhumbline Advisers purchased a new stake in Solventum during the 2nd quarter worth $13,738,000. Finally, Railway Pension Investments Ltd purchased a new stake in Solventum during the 2nd quarter worth $12,652,000.

Solventum Price Performance

SOLV opened at $67.03 on Tuesday. The business has a 50-day moving average of $57.26. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90.

Solventum (NYSE:SOLV) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The firm’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SOLV. Bank of America dropped 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 began coverage on shares of Solventum in a research note on Monday, June 24th. They set a “hold” rating on the stock. Morgan Stanley dropped their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Wells Fargo & Company dropped their target price 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. Finally, BTIG Research began coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.25.

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.