American Investment Services Inc. purchased a new position in Solventum Co. (NYSE:SOLV – Free Report) in the second quarter, HoldingsChannel reports. The fund purchased 16,865 shares of the company’s stock, valued at approximately $892,000.
Several other institutional investors have also recently added to or reduced their stakes in SOLV. Fifth Lane Capital LP bought a new stake in shares of Solventum in the 1st quarter worth about $826,000. Boit C F David acquired a new position in Solventum in the first quarter worth about $152,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Solventum in the first quarter valued at about $5,747,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Solventum during the first quarter valued at approximately $209,000. Finally, LRI Investments LLC bought a new position in Solventum during the 1st quarter worth approximately $43,000.
Solventum Trading Down 3.3 %
Solventum stock opened at $69.95 on Monday. 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 company has a 50 day moving average of $61.01.
Wall Street Analyst Weigh In
SOLV has been the topic of several research reports. Argus initiated coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. BTIG Research initiated coverage on shares of Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating for the company. Bank of America reduced their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. 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. Finally, Morgan Stanley reduced their price target on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $58.25.
Solventum Company 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.
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