CarsonAllaria Wealth Management Ltd. bought a new stake in Solventum Co. (NYSE:SOLV – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 503 shares of the company’s stock, valued at approximately $27,000.
A number of other large investors also recently made changes to their positions in the business. Partnership Wealth Management LLC bought a new stake in shares of Solventum in the 2nd quarter valued at approximately $26,000. M&R Capital Management Inc. bought a new stake in Solventum during the second quarter worth approximately $27,000. Beach Investment Counsel Inc. PA bought a new stake in Solventum during the second quarter worth approximately $27,000. S.A. Mason LLC bought a new stake in Solventum during the second quarter worth approximately $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Solventum during the second quarter worth approximately $29,000.
Solventum Price Performance
Solventum stock remained flat at $59.45 during mid-day trading on Tuesday. The company had a trading volume of 747,423 shares, compared to its average volume of 2,103,396. The company has a 50 day simple moving average of $54.47. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on SOLV shares. Argus started coverage on Solventum in a research report on Monday, June 24th. They issued a “hold” rating for the company. Bank of America reduced their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Wells Fargo & Company reduced their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Morgan Stanley cut their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Finally, The Goldman Sachs Group upped their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, Solventum presently has a consensus rating of “Hold” and an average price target of $58.25.
Check Out Our Latest Stock Analysis on Solventum
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.
Read More
- Five stocks we like better than Solventum
- Stock Market Upgrades: What Are They?
- Columbia Sportswear: A Turnaround Story That’s Gaining Ground
- What is a Dividend King?
- Lowe’s Stock: Hold Now, Buy it When it Dips
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- ZIM Shipping Stock Soars as the Industry Shows a Bottoming Trend
Want to see what other hedge funds are holding SOLV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Solventum Co. (NYSE:SOLV – Free Report).
Receive News & Ratings for Solventum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solventum and related companies with MarketBeat.com's FREE daily email newsletter.