City State Bank Makes New Investment in Solventum Co. (NYSE:SOLV)

City State Bank purchased a new position in shares of Solventum Co. (NYSE:SOLV) in the second quarter, Holdings Channel reports. The fund purchased 1,005 shares of the company’s stock, valued at approximately $53,000.

A number of other institutional investors also recently bought and sold shares of the business. Partnership Wealth Management LLC purchased a new position in shares of Solventum during the 2nd quarter valued at approximately $26,000. Beach Investment Counsel Inc. PA purchased a new position in shares of Solventum during the 2nd quarter valued at approximately $27,000. M&R Capital Management Inc. purchased a new position in shares of Solventum during the 2nd quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Solventum during the 2nd quarter valued at approximately $29,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Solventum during the 1st quarter valued at approximately $30,000.

Solventum Trading Up 2.4 %

SOLV traded up $1.33 on Tuesday, hitting $57.47. 916,572 shares of the company’s stock were exchanged, compared to its average volume of 2,202,698. Solventum Co. has a fifty-two week low of $47.16 and a fifty-two week high of $96.05. The company has a quick ratio of 1.33, a current ratio of 1.81 and a debt-to-equity ratio of 2.16. The firm’s 50-day simple moving average is $54.21.

Solventum (NYSE:SOLV) last announced its 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 for the quarter, compared to analyst estimates of $1.99 billion. Research analysts forecast that Solventum Co. will post 6.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley cut their price target on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Bank of America cut their price target on shares of 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 shares of Solventum in a report on Monday, June 24th. They issued a “hold” rating for the company. The Goldman Sachs Group cut their price target on shares of Solventum from $54.00 to $48.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. Finally, Wells Fargo & Company assumed coverage on shares of Solventum in a report on Monday, April 8th. They issued an “equal weight” rating and a $69.00 price target for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.