CarsonAllaria Wealth Management Ltd. Takes $27,000 Position in Solventum Co. (NYSE:SOLV)

CarsonAllaria Wealth Management Ltd. bought a new stake in Solventum Co. (NYSE:SOLV) 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.

Solventum (NYSE:SOLV) last issued its 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 for the quarter, compared to the consensus estimate of $2.05 billion. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts expect that Solventum Co. will post 6.4 EPS for the current year.

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.

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.