Addison Advisors LLC Purchases Shares of 569 Solventum Co. (NYSE:SOLV)

Addison Advisors LLC purchased a new stake in shares of Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 569 shares of the company’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SOLV. Deseret Mutual Benefit Administrators acquired a new position in Solventum during the second quarter valued at approximately $25,000. Partnership Wealth Management LLC bought a new stake in shares of Solventum in the second quarter valued at approximately $26,000. Richard W. Paul & Associates LLC bought a new stake in shares of Solventum in the second quarter valued at approximately $26,000. Family Firm Inc. bought a new stake in shares of Solventum in the second quarter valued at approximately $26,000. Finally, M&R Capital Management Inc. bought a new stake in shares of Solventum in the second quarter valued at approximately $27,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Argus assumed coverage on Solventum in a research report on Monday, June 24th. They issued a “hold” 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. BTIG Research assumed coverage on Solventum in a research report on Thursday. They issued a “neutral” rating for the company. The Goldman Sachs Group increased their price objective 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 target price 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 research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.25.

Solventum Stock Up 0.9 %

Shares of SOLV stock opened at $66.20 on Friday. Solventum Co. has a one year low of $47.16 and a one year high of $96.05. The business has a fifty day moving average price of $56.95. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.31 and a quick ratio of 0.96.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping 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. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts forecast that Solventum Co. will post 6.38 EPS for the current fiscal year.

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.