CarsonAllaria Wealth Management Ltd. Makes New $27,000 Investment in Solventum Co. (NYSE:SOLV)

CarsonAllaria Wealth Management Ltd. bought a new position in Solventum Co. (NYSE:SOLV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 503 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD bought a new stake in Solventum in the first quarter valued at approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Solventum in the first quarter valued at approximately $5,747,000. CWM LLC bought a new stake in Solventum in the second quarter valued at approximately $473,000. Great Valley Advisor Group Inc. bought a new stake in Solventum in the second quarter valued at approximately $493,000. Finally, Capital Investment Advisors LLC bought a new stake in Solventum in the second quarter valued at approximately $659,000.

Analyst Ratings Changes

Several analysts have weighed in on SOLV shares. The Goldman Sachs Group boosted 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. Bank of America decreased their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. Argus assumed coverage on Solventum in a report on Monday, June 24th. They set a “hold” rating for the company. Morgan Stanley decreased their target price on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Finally, Wells Fargo & Company decreased their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.25.

Solventum Stock Performance

SOLV remained flat at $59.45 during trading on Tuesday. The company’s stock had a trading volume of 747,423 shares, compared to its average volume of 2,103,396. The company has a 50 day simple moving average of $54.47. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.96 and a current ratio of 1.31. Solventum Co. has a twelve month low of $47.16 and a twelve month high of $96.05.

Solventum (NYSE:SOLV) last posted its quarterly earnings data 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 firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts predict that Solventum Co. will post 6.4 EPS for the current year.

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.