Amalgamated Bank Takes $2.38 Million Position in Solventum Co. (NYSE:SOLV)

Amalgamated Bank purchased a new position in Solventum Co. (NYSE:SOLV) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 45,015 shares of the company’s stock, valued at approximately $2,380,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SOLV. EverSource Wealth Advisors LLC acquired a new stake in shares of Solventum in the first quarter valued at about $30,000. Deseret Mutual Benefit Administrators purchased a new position in Solventum in the 2nd quarter valued at about $25,000. Richard W. Paul & Associates LLC acquired a new stake in Solventum in the 2nd quarter worth about $26,000. Family Firm Inc. purchased a new stake in Solventum during the 2nd quarter worth approximately $26,000. Finally, Partnership Wealth Management LLC acquired a new position in shares of Solventum during the second quarter valued at approximately $26,000.

Solventum Stock Down 0.1 %

Shares of SOLV stock opened at $70.04 on Wednesday. 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 stock’s 50-day moving average price is $61.85. Solventum Co. has a 12 month low of $47.16 and a 12 month high of $96.05.

Solventum (NYSE:SOLV) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, beating 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 firm’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 fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a research report on Monday, August 12th. Morgan Stanley reduced their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Bank of America decreased their price target on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. BTIG Research began coverage on shares of Solventum in a report on Thursday, September 5th. They issued a “neutral” rating for the company. Finally, Argus assumed coverage on Solventum in a report on Monday, June 24th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.