Sunbelt Securities Inc. Invests $412,000 in Solventum Co. (NYSE:SOLV)

Sunbelt Securities Inc. acquired a new stake in Solventum Co. (NYSE:SOLV) in the second quarter, HoldingsChannel reports. The firm acquired 7,792 shares of the company’s stock, valued at approximately $412,000.

Several other institutional investors and hedge funds have also modified their holdings of SOLV. Northwestern Mutual Wealth Management Co. purchased a new stake in Solventum in the 2nd quarter worth approximately $568,000. Creative Planning acquired a new stake in shares of Solventum during the second quarter worth $1,584,000. Bontempo Ohly Capital Mgmt LLC purchased a new stake in shares of Solventum in the second quarter valued at $299,000. Mackenzie Financial Corp acquired a new position in shares of Solventum during the 2nd quarter valued at about $2,253,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Solventum during the 2nd quarter worth about $4,537,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SOLV. BTIG Research assumed coverage on Solventum in a research report on Thursday, September 5th. They issued a “neutral” rating on the stock. Wolfe Research assumed coverage on shares of Solventum in a report on Thursday, September 26th. They set a “peer perform” rating on the stock. Argus initiated coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. Wells Fargo & Company lowered their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of Solventum from $48.00 to $54.00 and gave the company a “sell” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $58.25.

Solventum Trading Down 3.5 %

Solventum stock opened at $67.30 on Wednesday. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96. The firm’s 50 day simple moving average is $63.22.

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 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. Solventum’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts forecast that Solventum Co. will post 6.38 earnings per share 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.