Archer Investment Corp Acquires New Shares in Solventum Co. (NYSE:SOLV)

Archer Investment Corp acquired a new position in Solventum Co. (NYSE:SOLV) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 646 shares of the company’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new stake in shares of Solventum in the 2nd quarter worth approximately $26,000. Richard W. Paul & Associates LLC bought a new stake in Solventum during the 2nd quarter valued at $26,000. Family Firm Inc. purchased a new position in shares of Solventum in the 2nd quarter valued at $26,000. M&R Capital Management Inc. purchased a new stake in shares of Solventum during the 2nd quarter worth $27,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in Solventum during the second quarter valued at about $27,000.

Analysts Set New Price Targets

A number of equities analysts have commented on SOLV shares. Wells Fargo & Company reduced 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. Morgan Stanley decreased their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Bank of America lowered their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Argus began coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group raised their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Solventum currently has an average rating of “Hold” and a consensus price target of $58.25.

Solventum Stock Up 2.0 %

NYSE SOLV opened at $65.11 on Thursday. 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 12-month low of $47.16 and a 12-month high of $96.05. The business has a fifty day moving average of $56.40.

Solventum (NYSE:SOLV) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts expect that Solventum Co. will post 6.38 earnings per share for the current 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.