Peoples Bank KS Takes $41,000 Position in Solventum Co. (NYSE:SOLV)

Peoples Bank KS purchased a new stake in Solventum Co. (NYSE:SOLV) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 586 shares of the company’s stock, valued at approximately $41,000.

A number of other institutional investors have also recently added to or reduced their stakes in SOLV. Davis Selected Advisers purchased a new stake in shares of Solventum in the 2nd quarter valued at approximately $273,070,000. Nuance Investments LLC purchased a new position in Solventum in the second quarter worth approximately $115,829,000. Newport Trust Company LLC acquired a new stake in Solventum during the second quarter worth $98,976,000. Baupost Group LLC MA purchased a new stake in Solventum in the second quarter valued at $96,242,000. Finally, Magnetar Financial LLC lifted its stake in shares of Solventum by 2,880.8% in the 2nd quarter. Magnetar Financial LLC now owns 1,490,410 shares of the company’s stock valued at $78,813,000 after purchasing an additional 1,440,410 shares during the last quarter.

Solventum Stock Up 0.7 %

Shares of SOLV traded up $0.48 during mid-day trading on Friday, hitting $67.74. 836,828 shares of the company’s stock were exchanged, compared to its average volume of 1,898,265. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. The company has a 50-day moving average of $63.61. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05.

Solventum (NYSE:SOLV) last released its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. The company’s revenue was up .2% on a year-over-year basis. Analysts forecast that Solventum Co. will post 6.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SOLV has been the subject of a number of recent analyst reports. Argus initiated coverage on Solventum in a research report on Monday, June 24th. They set a “hold” rating for the company. BTIG Research initiated coverage on shares of Solventum in a research report on Thursday, September 5th. They set a “neutral” rating for the company. Wells Fargo & Company decreased their price objective on shares of 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 target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Finally, Wolfe Research started coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, Solventum has an average rating of “Hold” and an average price target of $58.25.

About Solventum

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.