Massmutual Trust Co. FSB ADV Invests $34,000 in Solventum Co. (NYSE:SOLV)

Massmutual Trust Co. FSB ADV bought a new stake in shares of Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 650 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of SOLV. EverSource Wealth Advisors LLC purchased a new position in shares of Solventum during the first quarter valued at about $30,000. LRI Investments LLC bought a new position in Solventum during the first quarter valued at approximately $43,000. GAMMA Investing LLC purchased a new position in Solventum during the 2nd quarter valued at approximately $74,000. Boit C F David bought a new stake in Solventum in the 1st quarter worth approximately $152,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Solventum during the 1st quarter worth approximately $209,000.

Solventum Trading Up 2.4 %

SOLV stock opened at $57.47 on Wednesday. The company’s fifty day moving average price is $54.16. The company has a current ratio of 1.81, a quick ratio of 1.33 and a debt-to-equity ratio of 2.16. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, May 9th. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.41. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Analysts anticipate that Solventum Co. will post 6.25 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on SOLV. The Goldman Sachs Group reduced their price target on shares of Solventum from $54.00 to $48.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Bank of America reduced their target price 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. Morgan Stanley lowered their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Finally, Argus began coverage on Solventum in a research note on Monday, June 24th. They set a “hold” rating 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. According to data from MarketBeat, Solventum has an average rating of “Hold” and a consensus price target of $58.00.

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.