Clifford Swan Investment Counsel LLC Purchases Shares of 14,566 Solventum Co. (NYSE:SOLV)

Clifford Swan Investment Counsel LLC acquired a new position in Solventum Co. (NYSE:SOLV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,566 shares of the company’s stock, valued at approximately $770,000.

Several other large investors have also modified their holdings of the company. Prudential PLC bought a new position in Solventum in the 2nd quarter worth approximately $2,510,000. PFG Investments LLC bought a new position in Solventum during the second quarter worth $346,000. Ashton Thomas Private Wealth LLC acquired a new position in Solventum during the 2nd quarter valued at $211,000. Cahill Financial Advisors Inc. bought a new stake in Solventum in the 2nd quarter valued at $292,000. Finally, LSV Asset Management bought a new stake in Solventum in the 2nd quarter valued at $164,000.

Analyst Ratings Changes

A number of brokerages have recently commented on SOLV. Bank of America cut their price objective on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Wells Fargo & Company cut their price target on Solventum from $69.00 to $64.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group lifted their price objective on Solventum from $48.00 to $54.00 and gave the stock a “sell” rating in a report on Monday, August 12th. BTIG Research assumed coverage on Solventum in a research note on Thursday, September 5th. They issued a “neutral” rating for the company. Finally, Argus assumed coverage on Solventum in a research report on Monday, June 24th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.25.

Solventum Price Performance

Shares of SOLV opened at $67.03 on Tuesday. 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. has a 1 year low of $47.16 and a 1 year high of $96.05. The stock has a 50 day moving average of $57.26.

Solventum (NYSE:SOLV) last released its quarterly earnings data 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 analyst estimates of $2.05 billion. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts forecast that Solventum Co. will post 6.38 earnings per share for the current year.

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.