Thurston Springer Miller Herd & Titak Inc. Purchases Shares of 558 Solventum Co. (NYSE:SOLV)

Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 558 shares of the company’s stock, valued at approximately $29,000.

Several other large investors have also recently bought and sold shares of SOLV. EverSource Wealth Advisors LLC purchased a new stake in shares of Solventum during the 1st quarter valued at $30,000. Partnership Wealth Management LLC purchased a new stake in Solventum in the second quarter worth about $26,000. M&R Capital Management Inc. purchased a new stake in Solventum in the second quarter worth about $27,000. LRI Investments LLC purchased a new stake in Solventum in the first quarter worth about $43,000. Finally, Massmutual Trust Co. FSB ADV purchased a new stake in Solventum in the second quarter worth about $34,000.

Analysts Set New Price Targets

A number of research firms have recently commented on SOLV. Argus began coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” rating on the stock. 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 report on Tuesday, June 25th. The Goldman Sachs Group cut their price target on shares of Solventum from $54.00 to $48.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley cut their price target 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 began coverage on shares of Solventum in a report on Monday, April 8th. They set an “equal weight” rating and a $69.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Solventum has an average rating of “Hold” and an average target price of $58.00.

Solventum Stock Performance

SOLV traded up $1.33 during trading on Tuesday, hitting $57.47. 916,572 shares of the company traded hands, compared to its average volume of 2,202,698. The stock has a 50-day moving average price of $54.21. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.33 and a current ratio of 1.81.

Solventum (NYSE:SOLV) last issued its quarterly earnings data on Thursday, May 9th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.41. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.99 billion. As a group, sell-side analysts forecast that Solventum Co. will post 6.25 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.