9,511 Shares in Solventum Co. (NYSE:SOLV) Bought by Wedbush Securities Inc.

Wedbush Securities Inc. purchased a new stake in shares of Solventum Co. (NYSE:SOLV) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,511 shares of the company’s stock, valued at approximately $503,000.

Several other institutional investors have also bought and sold shares of SOLV. Bank of New York Mellon Corp bought a new position in shares of Solventum during the 2nd quarter valued at approximately $48,487,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Solventum during the second quarter valued at $24,533,000. Raymond James & Associates purchased a new stake in shares of Solventum in the second quarter valued at $16,986,000. Rhumbline Advisers bought a new stake in shares of Solventum in the 2nd quarter worth about $13,738,000. Finally, Railway Pension Investments Ltd purchased a new position in shares of Solventum during the 2nd quarter worth about $12,652,000.

Solventum Stock Performance

SOLV opened at $68.65 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90. The business’s fifty day moving average price is $58.32. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

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

Analyst Ratings Changes

SOLV has been the topic of a number of recent analyst reports. Argus assumed coverage on shares of Solventum in a research report on Monday, June 24th. They issued a “hold” rating on the stock. BTIG Research began coverage on Solventum in a research note on Thursday, September 5th. They set a “neutral” rating for the company. Bank of America dropped their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. The Goldman Sachs Group increased their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research note on Monday, August 12th. Finally, Wells Fargo & Company lowered 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. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Solventum has an average rating of “Hold” and an average 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.