Dorsey & Whitney Trust CO LLC Takes $6.34 Million Position in Solventum Co. (NYSE:SOLV)

Dorsey & Whitney Trust CO LLC purchased a new stake in Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 119,885 shares of the company’s stock, valued at approximately $6,340,000. Dorsey & Whitney Trust CO LLC owned 0.07% of Solventum at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SOLV. EverSource Wealth Advisors LLC bought a new stake in shares of Solventum during the 1st quarter valued at $30,000. Deseret Mutual Benefit Administrators acquired a new position in Solventum in the second quarter valued at about $25,000. Richard W. Paul & Associates LLC bought a new stake in Solventum during the second quarter worth about $26,000. Family Firm Inc. acquired a new stake in Solventum during the second quarter worth about $26,000. Finally, Partnership Wealth Management LLC acquired a new stake in Solventum during the second quarter worth about $26,000.

Analysts Set New Price Targets

SOLV has been the subject of a number of recent analyst reports. Argus began coverage on shares of Solventum in a report on Monday, June 24th. They set a “hold” rating for the company. Wells Fargo & Company cut 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. Morgan Stanley reduced their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. 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 report on Monday, August 12th. Finally, Bank of America reduced 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. 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 stock has an average rating of “Hold” and an average target price of $58.25.

Solventum Stock Performance

Shares of Solventum stock opened at $67.03 on Tuesday. The company has a 50 day moving average of $57.26. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.90.

Solventum (NYSE:SOLV) last released 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 for the quarter, compared to analyst estimates of $2.05 billion. Solventum’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts anticipate that Solventum Co. will post 6.38 EPS for the current 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.