Massmutual Trust Co. FSB ADV Invests $34,000 in Solventum Co. (NYSE:SOLV)

Massmutual Trust Co. FSB ADV bought a new position in Solventum Co. (NYSE:SOLV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 650 shares of the company’s stock, valued at approximately $34,000.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC acquired a new position in Solventum in the second quarter worth $74,000. EverSource Wealth Advisors LLC bought a new position in shares of Solventum in the first quarter valued at about $30,000. LRI Investments LLC bought a new position in shares of Solventum in the first quarter valued at about $43,000. Price T Rowe Associates Inc. MD acquired a new position in Solventum during the 1st quarter worth about $5,889,000. Finally, Alpine Global Management LLC bought a new stake in Solventum during the 1st quarter worth about $1,766,000.

Solventum Price Performance

Shares of NYSE SOLV opened at $57.47 on Wednesday. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05. The company has a current ratio of 1.81, a quick ratio of 1.33 and a debt-to-equity ratio of 2.16. The stock’s fifty day moving average price is $54.16.

Solventum (NYSE:SOLV) last announced its quarterly earnings results on Thursday, May 9th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.41. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.99 billion. Analysts expect that Solventum Co. will post 6.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SOLV. Argus assumed coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. The Goldman Sachs Group reduced their price objective on Solventum from $54.00 to $48.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Bank of America lowered their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Finally, Morgan Stanley lowered their price target on shares of 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 analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $58.00.

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.