1,768 Shares in Solventum Co. (NYSE:SOLV) Bought by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. acquired a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,768 shares of the company’s stock, valued at approximately $93,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SOLV. Partnership Wealth Management LLC acquired a new stake in shares of Solventum during the 2nd quarter valued at about $26,000. M&R Capital Management Inc. purchased a new position in Solventum during the second quarter worth approximately $27,000. Beach Investment Counsel Inc. PA acquired a new stake in Solventum in the second quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Solventum in the second quarter valued at approximately $29,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Solventum during the 1st quarter worth approximately $30,000.

Analysts Set New Price Targets

SOLV has been the topic of a number of research analyst reports. Argus initiated coverage on shares of Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. The Goldman Sachs Group cut their target price on shares of Solventum from $54.00 to $48.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company initiated coverage on shares of Solventum in a research report on Monday, April 8th. They set an “equal weight” rating and a $69.00 price target for the company. Bank of America lowered their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Finally, Morgan Stanley reduced their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.00.

Solventum Price Performance

Shares of NYSE SOLV traded up $1.33 during mid-day trading on Tuesday, reaching $57.47. The company’s stock had a trading volume of 916,572 shares, compared to its average volume of 2,202,698. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The business has a 50-day simple moving average of $54.21. The company has a quick ratio of 1.33, a current ratio of 1.81 and a debt-to-equity ratio of 2.16.

Solventum (NYSE:SOLV) last released its earnings results 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 business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.99 billion. On average, equities analysts predict that Solventum Co. will post 6.25 earnings per share for the current fiscal year.

About Solventum

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.