96,824 Shares in Solventum Co. (NYSE:SOLV) Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 96,824 shares of the company’s stock, valued at approximately $5,120,000. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Solventum at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of Solventum during the 2nd quarter valued at about $114,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Solventum during the 2nd quarter valued at about $466,000. Whittier Trust Co. acquired a new position in shares of Solventum during the 2nd quarter valued at about $382,000. Eagle Bay Advisors LLC acquired a new position in shares of Solventum during the 2nd quarter valued at about $27,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Solventum during the 2nd quarter valued at about $1,634,000.

Analysts Set New Price Targets

SOLV has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Argus initiated coverage on Solventum in a report on Monday, June 24th. They set a “hold” rating on the stock. Wells Fargo & Company lowered their price objective on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Bank of America lowered 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. Finally, The Goldman Sachs Group raised their target price on Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, Solventum currently has a consensus rating of “Hold” and a consensus target price of $58.25.

Solventum Trading Up 1.9 %

Shares of SOLV stock opened at $64.12 on Friday. The stock has a 50 day moving average price of $55.37. The company has a quick ratio of 0.96, a current ratio of 1.31 and a debt-to-equity ratio of 2.90. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05.

Solventum (NYSE:SOLV) last posted its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The business’s revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Solventum Co. will post 6.4 earnings per share for the current fiscal year.

Solventum 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.