Benjamin F. Edwards & Company Inc. Acquires Shares of 774 Solventum Co. (NYSE:SOLV)

Benjamin F. Edwards & Company Inc. acquired a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 774 shares of the company’s stock, valued at approximately $41,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators bought a new position in shares of Solventum during the 2nd quarter worth $25,000. Partnership Wealth Management LLC bought a new position in shares of Solventum during the 2nd quarter worth $26,000. Richard W. Paul & Associates LLC bought a new position in shares of Solventum during the 2nd quarter worth $26,000. Family Firm Inc. bought a new position in shares of Solventum during the 2nd quarter worth $26,000. Finally, M&R Capital Management Inc. purchased a new stake in Solventum during the 2nd quarter worth about $27,000.

Analyst Ratings Changes

A number of analysts recently issued reports on SOLV shares. Wolfe Research started coverage on Solventum in a report on Thursday. They set a “peer perform” rating on the stock. Bank of America dropped their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. Wells Fargo & Company dropped 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. 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. Finally, Argus began coverage on Solventum in a report on Monday, June 24th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.25.

Solventum Stock Down 0.8 %

NYSE:SOLV opened at $67.57 on Friday. The firm has a 50-day simple moving average of $62.70. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31.

Solventum (NYSE:SOLV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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. Solventum’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts expect that Solventum Co. will post 6.38 EPS for the current 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.