Farmers & Merchants Investments Inc. Invests $194,000 in Solventum Co. (NYSE:SOLV)

Farmers & Merchants Investments Inc. bought a new stake in shares of Solventum Co. (NYSE:SOLV) in the second quarter, Holdings Channel reports. The fund bought 3,672 shares of the company’s stock, valued at approximately $194,000.

Several other hedge funds also recently added to or reduced their stakes in SOLV. National Bank of Canada FI raised its stake in shares of Solventum by 4.0% during the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after buying an additional 236 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Solventum during the first quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators acquired a new position in Solventum in the second quarter valued at approximately $25,000. Richard W. Paul & Associates LLC purchased a new stake in Solventum in the 2nd quarter worth approximately $26,000. Finally, Family Firm Inc. purchased a new stake in Solventum in the 2nd quarter worth approximately $26,000.

Solventum Price Performance

SOLV stock opened at $66.20 on Friday. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The stock’s 50-day moving average is $56.95.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Solventum Co. will post 6.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SOLV has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on shares of Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Argus initiated coverage on shares of Solventum in a research report on Monday, June 24th. They issued a “hold” rating for the company. 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 research report on Monday, August 12th. BTIG Research assumed coverage on Solventum in a report on Thursday. They issued a “neutral” rating for the company. Finally, Morgan Stanley dropped 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. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, Solventum has an average rating of “Hold” and a consensus price target 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.