American Investment Services Inc. Makes New Investment in Solventum Co. (NYSE:SOLV)

American Investment Services Inc. purchased a new position in Solventum Co. (NYSE:SOLV) 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.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates 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. Solventum’s revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that Solventum Co. will post 6.38 EPS for the current year.

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.