Financial Counselors Inc. Acquires New Holdings in Solventum Co. (NYSE:SOLV)

Financial Counselors Inc. bought a new stake in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,917 shares of the company’s stock, valued at approximately $313,000.

A number of other large investors have also added to or reduced their stakes in the company. Natixis Advisors LLC purchased a new position in shares of Solventum in the 2nd quarter worth approximately $678,000. Equitable Trust Co. acquired a new stake in Solventum in the second quarter valued at approximately $336,000. Essex Financial Services Inc. purchased a new position in Solventum in the second quarter worth $207,000. Bray Capital Advisors acquired a new position in shares of Solventum during the second quarter worth $50,000. Finally, WR Wealth Planners LLC purchased a new stake in shares of Solventum during the 2nd quarter valued at $62,000.

Solventum Price Performance

SOLV opened at $65.11 on Thursday. 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. The stock’s 50 day simple moving average is $56.40.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Solventum’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Solventum Co. will post 6.38 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SOLV. Argus started coverage on Solventum in a research note on Monday, June 24th. They set a “hold” rating on the stock. The Goldman Sachs Group boosted their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Bank of America cut their price objective on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Morgan Stanley lowered 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 note on Monday, July 15th. Finally, Wells Fargo & Company cut their price target on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.25.

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.