FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires Shares of 2,947 Solventum Co. (NYSE:SOLV)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in shares of Solventum Co. (NYSE:SOLV) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,947 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deseret Mutual Benefit Administrators acquired a new position in shares of Solventum in the 2nd quarter worth approximately $25,000. Hollencrest Capital Management acquired a new position in Solventum in the second quarter worth $25,000. Partnership Wealth Management LLC bought a new stake in Solventum during the second quarter valued at $26,000. Richard W. Paul & Associates LLC acquired a new stake in shares of Solventum during the second quarter worth $26,000. Finally, Family Firm Inc. acquired a new position in shares of Solventum in the 2nd quarter valued at about $26,000.

Analyst Ratings Changes

Several research firms recently weighed in on SOLV. The Goldman Sachs Group increased their price objective on shares of Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Argus assumed coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. Piper Sandler started coverage on Solventum in a research report on Monday, October 7th. They set a “neutral” rating and a $71.00 price objective for the company. BTIG Research began coverage on Solventum in a research note on Thursday, September 5th. They set a “neutral” rating for the company. Finally, Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.33.

Solventum Trading Up 0.1 %

Shares of NYSE:SOLV opened at $68.14 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The firm’s fifty day moving average is $64.77. Solventum Co. has a one year low of $47.16 and a one year high of $96.05.

Solventum (NYSE:SOLV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Solventum 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.