Financial Perspectives Inc purchased a new stake in Solventum Co. (NYSE:SOLV – Free Report) in the second quarter, HoldingsChannel reports. The firm purchased 3,557 shares of the company’s stock, valued at approximately $188,000.
Several other institutional investors have also recently bought and sold shares of the stock. Davis Selected Advisers acquired a new position in shares of Solventum during the second quarter valued at $273,070,000. Nuance Investments LLC bought a new position in shares of Solventum in the 2nd quarter valued at about $115,829,000. Bank of New York Mellon Corp acquired a new stake in shares of Solventum during the 2nd quarter worth approximately $48,487,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Solventum during the second quarter worth approximately $24,533,000. Finally, Raymond James & Associates acquired a new position in Solventum in the second quarter valued at approximately $16,986,000.
Solventum Trading Up 2.0 %
SOLV stock opened at $70.00 on Monday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. Solventum Co. has a 1 year low of $47.16 and a 1 year high of $96.05. The business’s 50-day moving average price is $58.72.
Analysts Set New Price Targets
SOLV has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group upped their price objective on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. Bank of America reduced their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Argus initiated coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating for the company. Finally, Morgan Stanley reduced their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $58.25.
Check Out Our Latest 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.
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