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

Archer Investment Corp acquired a new position in Solventum Co. (NYSE:SOLVFree Report) 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.

Get Our Latest Research Report on SOLV

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:SOLVGet Free Report) 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

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Solventum (NYSE:SOLV)

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