OLD National Bancorp IN Makes New Investment in Solventum Co. (NYSE:SOLV)

OLD National Bancorp IN 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 8,401 shares of the company’s stock, valued at approximately $444,000.

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 position in shares of Solventum during the first quarter valued at approximately $5,889,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Solventum during the first quarter valued at approximately $5,747,000. Linden Thomas Advisory Services LLC bought a new position in shares of Solventum during the second quarter valued at approximately $3,207,000. Magnetar Financial LLC bought a new position in shares of Solventum during the first quarter valued at approximately $3,478,000. Finally, Alpine Global Management LLC bought a new position in shares of Solventum during the first quarter valued at approximately $1,766,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group decreased their target price on Solventum from $54.00 to $48.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. Morgan Stanley decreased their price objective on Solventum from $70.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Wells Fargo & Company cut their target price on Solventum from $69.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Friday. Bank of America cut their target price on Solventum from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Finally, Argus began coverage on Solventum in a research note on Monday, June 24th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, Solventum has a consensus rating of “Hold” and a consensus price target of $56.75.

Solventum Stock Up 3.3 %

SOLV stock traded up $1.93 during trading on Friday, reaching $60.59. The stock had a trading volume of 2,411,871 shares, compared to its average volume of 2,188,416. The firm’s 50 day moving average is $54.12. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.33 and a current ratio of 1.81. Solventum Co. has a 52 week low of $47.16 and a 52 week high of $96.05.

Solventum (NYSE:SOLV) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts forecast that Solventum Co. will post 6.25 earnings per share 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.