1,102 shares in Solventum Co. (NYSE:SOLV) acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. bought a new share in Solventum Co. (NYSE:SOLV – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,102 shares of the company’s stock, valued at approximately $58,000.

A number of other hedge funds have recently bought and sold shares of the company. Accredited Investors Inc. acquired a new stake in shares of Solventum during the second quarter valued at about $404,000. Parsons Capital Management Inc. RI bought a new stake in Solventum in the second quarter valued at $6,644,000. Nisa Investment Advisors LLC acquired a new stake in shares of Solventum in the second quarter valued at $2,147,000. Raymond James & Associates bought a new position in shares of Solventum in the second quarter valued at $16,986,000. Finally, Oakworth Capital Inc. bought a new position in shares of Solventum in the second quarter valued at $44,000.

Solventum’s stock performance

Shares of NYSE SOLV opened at $59.66 on Thursday. The company has a 50-day simple moving average of $54.54. 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. it has a 52-week low of $47.16 and a 52-week high of $96.05.

Solventum (NYSE:SOLV – Get Your Free Report ) last announced its earnings results on Thursday, August 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. The company’s quarterly revenue was up 0.2% year over year. On average, equities analysts expect that Solventum Co. will post 6.4 earnings per share for the current year.

Analysts set new price targets

Several analysts recently weighed in on the company. Bank of America lowered their price objective on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Morgan Stanley reduced their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Argus began coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” rating on the company. Wells Fargo & Company reduced 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. Finally, Goldman Sachs Group upped their target price on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.25, based on data from MarketBeat.com.

Check out our latest report on Solventum

About Solventum

(Free Report)

Solventum Corporation, a healthcare company, is committed to 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.

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