Thurston Springer Miller Herd & Titak Inc. Makes New $29,000 Investment in Solventum Co. (NYSE:SOLV)

Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Solventum Co. (NYSE:SOLV) during the second quarter, HoldingsChannel reports. The institutional investor acquired 558 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SOLV. Partnership Wealth Management LLC purchased a new position in shares of Solventum during the second quarter worth approximately $26,000. M&R Capital Management Inc. purchased a new position in shares of Solventum during the second quarter worth approximately $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Solventum during the first quarter worth approximately $30,000. Massmutual Trust Co. FSB ADV purchased a new position in shares of Solventum during the second quarter worth approximately $34,000. Finally, LRI Investments LLC purchased a new position in shares of Solventum during the first quarter worth approximately $43,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Solventum from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Argus assumed coverage on shares of Solventum in a research report on Monday, June 24th. They set a “hold” rating on the stock. Bank of America lowered their target price on shares of Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Wells Fargo & Company assumed coverage on shares of Solventum in a research report on Monday, April 8th. They issued an “equal weight” rating and a $69.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Solventum from $54.00 to $48.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.00.

Solventum Stock Performance

NYSE:SOLV traded up $1.33 during midday trading on Tuesday, reaching $57.47. The stock had a trading volume of 916,572 shares, compared to its average volume of 2,202,698. The business’s fifty day simple moving average is $54.21. Solventum Co. has a 12-month low of $47.16 and a 12-month high of $96.05. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.81 and a quick ratio of 1.33.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, May 9th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.67 by $0.41. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.99 billion. On average, sell-side analysts expect that Solventum Co. will post 6.25 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.